Double-digit price growth to stick around as ‘property boom’ arrives
According to leading indicators, Australia’s property boom officially began in November, following several slow months on the back of the ...
Based on its average 5-year and quarterly capital gains MELBOURNE, 3000 saw average decrease in the long term.
Besides that, the Australian suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.
Profits due to an downward trend in home prices in MELBOURNE, 3000 averaged -1.05% per annum over a 3-year period.
Average weekly rents on listings have reached the $450 mark, reflecting a 5.09% increase in returns based on the current median price in MELBOURNE.
An average of 41.58 real estate transactions take place per month in MELBOURNE which translates to 499 per annum.
499 properties were sold in MELBOURNE during the past year, making it the 82nd most active market in VIC based on total real estate transactions.
MELBOURNE, 3000 places 242nd in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | N/A | $460,000 |
| GROWTH REPORT | ||
| Median Quarterly | N/A | -1.08% |
| Median 12 month | N/A | 3.25% |
| Median 3 years | N/A | -3.16% |
| Median 5 years | N/A | -12.84% |
| 10 years average annual | N/A | 0.67% |
| Weekly media advert. rent | N/A | $450 |
| Time on Market | N/A | 67.6 days |
| Gross Rental Yield Percent | N/A | 5.09% |
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