‘Great buying opportunities’ for careful investors looking at new-builds
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POINT COOK, 3030 ranks 870th on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 11.58% 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 weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $655,000.
The upward trend in home prices in POINT COOK, 3030 averaged 14.65% per annum over a 3-year period.
Average weekly rents on listings have reached the $410 mark, reflecting a 3.25% increase in returns based on the current median price in POINT COOK.
An average of 68.67 real estate transactions take place per month in POINT COOK which translates to 824 per annum.
824 properties were sold in POINT COOK in 2016, making it the 55th most active market in VIC based on total real estate transactions.
POINT COOK, 3030 places 224th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $655,000 | $466,500 |
| GROWTH REPORT | ||
| Median Quarterly | 2.34% | 6.02% |
| Median 12 month | 11.58% | 13.78% |
| Median 3 years | 43.96% | 31.41% |
| Median 5 years | 45.56% | 43.54% |
| 10 years average annual | 5.78% | 3.92% |
| Weekly media advert. rent | $410 | $370 |
| Time on Market | 45.9 days | 58.8 days |
| Gross Rental Yield Percent | 3.25% | 4.12% |
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