Demand For Homes Stays High In 1 State While The Rest Fall Back
Rising interest rates have eased demand from potential buyers, which has been reflected in the slowing of home price gro...
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 -3.23% per annum over a 3-year period.
Average weekly rents on listings have reached the $360 mark, reflecting a 4.46% increase in returns based on the current median price in MELBOURNE.
An average of 62.58 real estate transactions take place per month in MELBOURNE which translates to 751 per annum.
751 properties were sold in MELBOURNE during the past year, making it the 46th most active market in VIC based on total real estate transactions.
MELBOURNE, 3000 places 321st in Australia based on median property value growth during the quarter.
It’s easy to forget that one is in Melbourne when in Melbourne. Its central business district is your gateway to the world, as if every corner was built with a different country in mind. Step through one of Melbourne’s cobblestone laneways and be transported to France, China or Japan, or even Rome, at any time of day (or night). Whether you want to indulge in some exotic fare, or hunker down at the library or a cafe with a good book, the city is literally at your doorstep.
At its heart are the centre’s old buildings, smack dab in the midst of all the chaos of local transports, pedestrians and skyscrapers, showing visitors Melbourne’s true identity and heritage. Find yourself lost in its cornucopia of shops and restaurants? Don’t hesitate to approach the friendly locals for directions.
Best suburb to buy real estate
Indeed, Melbourne has plenty of highlights to explore. No wonder that visitors never get tired of going back and investors are snapping up properties in the suburb. Buying an investment property in Melbourne won’t put a dent in one’s savings, whether one is a first home buyer or seasoned investor. Finding homes for sale in Melbourne is next to impossible as apartments and condominium units are the norm.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||N/A||-8.5%|
|Median 3 years||N/A||-9.68%|
|Median 5 years||N/A||-17.65%|
|10 years average annual||N/A||0.56%|
|Weekly media advert. rent||N/A||$360|
|Time on Market||N/A||81.3 days|
|Gross Rental Yield Percent||N/A||4.46%|