WERRIBEE, 3030 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 WERRIBEE, 3030 values up and netting property investors a capital gain of 21.52% for the past year.
Investors saw the median home price rise to $480,000.
Profits due to an upward trend in home prices in the suburb averaged 17.46% per annum over a 3-year period.
WERRIBEE now ranks at the 144th 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 WERRIBEE 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 $335 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 WERRIBEE, homes and units usually stay on listing for an average of 40.3 days.
In 2016, 793 properties were sold in WERRIBEE during the past year, making it the 66th most active market in VIC based on total real estate transactions.
WERRIBEE ranks 182nd in VIC when it comes to estimated capital gains experienced by property investors over the past three years.
WERRIBEE, 3030 has a capital gain of 15% for the past year, which is higher than average compared to its 40.82% growth within a five-year period.
WERRIBEE, 3030 ranks 282nd on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 15% for property investors last year.
With the median home price in WERRIBEE sitting at $345,000, and the average rent at $310, property owners could potentially earn a 4.67% increase in gross rental yield.
Property investors have seen a 2.99% gain in WERRIBEE based on an increase in median home prices for the past three months.
Homeowners and real estate investors betting on WERRIBEE, 3030 can rest assured about this VIC suburb's performance. The suburb saw median home prices rise by 15%.
A survey of average capital gains or median home price increase in suburbs across the country shows that WERRIBEE, 3030 obtained a 5.35% growth over a ten-year period. It ranks 623rd on our list of suburbs that property investors should look into.