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 8.39% for the past year.
Investors saw the median home price rise to $607,000.
Profits due to an upward trend in home prices in the suburb averaged 11.04% per annum over a 3-year period.
CAROLINE SPRINGS now ranks at the 520th 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 $400 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 54.1 days.
In 2016, 345 properties were sold in CAROLINE SPRINGS during the past year, making it the 279th most active market in VIC based on total real estate transactions.
CAROLINE SPRINGS ranks 24th in VIC when it comes to estimated capital gains experienced by property investors over the past three years.
CAROLINE SPRINGS, 3023 has a capital gain of 10.28% for the past year, which is higher than average compared to its 14.29% growth within a five-year period.
With the median home price in CAROLINE SPRINGS sitting at $440,000, and the average rent at $390, property owners could potentially earn a 4.61% increase in gross rental yield.
Property investors have seen a 2.33% gain in CAROLINE SPRINGS based on an increase in median home prices for the past three months.
Homeowners and real estate investors betting on CAROLINE SPRINGS, 3023 can rest assured about this VIC suburb's performance. The suburb saw median home prices rise by 10.28%.
A survey of average capital gains or median home price increase in suburbs across the country shows that CAROLINE SPRINGS, 3023 obtained a 4.25% growth over a ten-year period. It ranks 793rd on our list of suburbs that property investors should look into.