WEST FOOTSCRAY, 3012 ranks 1977th on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 5.59% for property investors.
Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $897,500.
The upward trend in home prices in WEST FOOTSCRAY, 3012 averaged 13.59% per annum over a 3-year period.
Average weekly rents on listings have reached the $430 mark, reflecting a 2.49% increase in returns based on the current median price in WEST FOOTSCRAY.
An average of 10.25 real estate transactions take place per month in WEST FOOTSCRAY which translates to 123 per annum.
123 properties were sold in WEST FOOTSCRAY in 2016, making it the 636th most active market in VIC based on total real estate transactions.
WEST FOOTSCRAY, 3012 places 505th in Australia based on median property value growth during the quarter.
The suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $427,500.
Investors saw the median home price rise to $427,500.
The upward trend in home prices in WEST FOOTSCRAY, 3012 averaged 1.51% per annum over a 3-year period.
WEST FOOTSCRAY now ranks at the 267th place on a list of fastest growing suburbs in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in WEST FOOTSCRAY are low, as opposed to average gains per annum over the past five years.
Real estate investors could earn a rental income of $320 based on current median home prices for the suburb.
It is expected for properties to spend some time on the market prior to a successful sale. In WEST FOOTSCRAY, homes and units usually stay on listing for an average of 76.5 days.
85 properties were sold in WEST FOOTSCRAY in 2016, making it the 19th most active market in VIC based on total real estate transactions.
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