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 22.58% for the past year.
Investors saw the median home price rise to $443,750.
Profits due to an upward trend in home prices in the suburb averaged 14.38% per annum over a 3-year period.
WERRIBEE now ranks at the 10th 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 $320 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 39.9 days.
In 2016, 809 properties were sold in WERRIBEE during the past year, making it the 59th most active market in VIC based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||22.58%||9.48%|
|Median 3 years||43.15%||24.51%|
|Median 5 years||47.88%||27%|
|10 years average annual||7.63%||4.47%|
|Weekly media advert. rent||$320||$295|
|Time on Market||39.9 days||62.1 days|
|Gross Rental Yield Percent||3.75%||4.83%|