A steady increase in median property prices over a five-year period in the suburb translates to a 66.51% capital gain.
It 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 $716,000
The augmented property values in the suburb are trailing above the territorial average of 11.1% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $350.
Home owners selling their properties and realtors in ALBION usually have to wait an average of 50.8 days days before their assets are lifted off the market.
The VIC suburb ranks 433rd on the list of best yielding suburbs for rental properties in VIC, posting a 2.54% return.
It also places places 194th in Australia based on median property value growth during the quarter.
Property investors enjoyed capital gains of 26.51% over the last 12 months in ALBION, translating to lower returns compared with its peers in VIC.
A survey of average capital gains or median home price increase in suburbs across the country shows that ALBION, 3020 obtained a 8.13% growth over a ten-year period. It ranks 142nd on our list of suburbs that property investors should look into.
ALBION, 3020 has a capital gain of 26.51% for the past year, which is higher than average compared to its 17.35% growth within a five-year period.
With the median home price in ALBION sitting at $287,500, and the average rent at $250, property owners could potentially earn a 4.52% increase in gross rental yield.
A 26.51% increase in median property prices in ALBION, 3020 has allowed this suburb to join the ranks of best performing suburbs in VIC, settling at number 23rd.
Figures from the previous quarter show that capital gains for real estate buyers in ALBION are high, as opposed to average gains per annum over the past five years.
ALBION, 3020 in VIC belongs to the local government area of Brimbank.