Expert insight: How does population growth influence capital growth?
Does lack of population growth actually stunt the creation of wealth for property investors? ...
CAROLINE SPRINGS, 3023 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 $610,000.
Profits due to an upward trend in home prices in the suburb averaged 9.03% per annum over a 3-year period.
CAROLINE SPRINGS now ranks at the 417th 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 $420 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 46.9 days.
In 2016, 352 properties were sold in CAROLINE SPRINGS during the past year, making it the 271st most active market in VIC based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $610,000 | $467,000 |
| GROWTH REPORT | ||
| Median Quarterly | -1.77% | 3.2% |
| Median 12 month | 0% | 9.88% |
| Median 3 years | 27.08% | 18.23% |
| Median 5 years | 40.23% | 25.2% |
| 10 years average annual | 6.63% | 4.46% |
| Weekly media advert. rent | $420 | $390 |
| Time on Market | 46.9 days | 64.3 days |
| Gross Rental Yield Percent | 3.58% | 4.34% |
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