CAROLINE SPRINGS, 3023 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.
Average median house prices in VIC have risen as a whole, pulling CAROLINE SPRINGS, 3023 values up and netting property investors a capital gain of 9.62% for the past year.
Investors saw the median home price rise to $570,000.
Profits due to an upward trend in home prices in the suburb averaged 8.66% per annum over a 3-year period.
CAROLINE SPRINGS now ranks at the 432nd 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 CAROLINE SPRINGS are low, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $395 based on current median home prices.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In CAROLINE SPRINGS, homes and units usually stay on listing for an average of 49.2 days.
In 2016, 389 properties were sold in CAROLINE SPRINGS during the past year, making it the 242nd most active market in VIC based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||9.62%||1.65%|
|Median 3 years||25.97%||-3.25%|
|Median 5 years||35.71%||0.75%|
|10 years average annual||6.62%||2.06%|
|Weekly media advert. rent||$395||$370|
|Time on Market||49.2 days||56.7 days|
|Gross Rental Yield Percent||3.6%||4.79%|