Property market update: Melbourne, December 2018
After an unprecedented property boom, the Melbourne market started to soften in 2018—a trend further enhanced by the tightening of credit ...
Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $1,125,000.
The upward trend in home prices in ASCOT VALE, 3032 averaged 10.83% per annum over a 3-year period.
Average weekly rents on listings have reached the $580 mark, reflecting a 2.68% increase in returns based on the current median price in ASCOT VALE.
An average of 13.25 real estate transactions take place per month in ASCOT VALE which translates to 159 per annum.
159 properties were sold in ASCOT VALE in 2016, making it the 552nd most active market in VIC based on total real estate transactions.
ASCOT VALE, 3032 places 479th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $1,125,000 | $527,750 |
| GROWTH REPORT | ||
| Median Quarterly | -0.88% | -0.89% |
| Median 12 month | -0.88% | 6.51% |
| Median 3 years | 32.5% | 2.28% |
| Median 5 years | 58.44% | 15.48% |
| 10 years average annual | 5.95% | 3.3% |
| Weekly media advert. rent | $580 | $395 |
| Time on Market | 44.0 days | 72.7 days |
| Gross Rental Yield Percent | 2.68% | 3.89% |
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