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Property investors have seen a 2.75% gain in ESSENDON based on an increase in median home prices for the past three months.
Based on its average 5-year and quarterly capital gains ESSENDON, 3040 saw average growth in the long term.
The VIC 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 $1,400,500
Profits averaged 15.04% per annum over a 3-year period, due to an upward trend in home prices in ESSENDON, 3040.
This means, real estate investors could earn a rental income of $500 based on current median home prices for the suburb.
The gross rental yield in ESSENDON, 3040 is 1.86%.
An average of 15.67 real estate transactions take place per month in ESSENDON which translates to 188 per annum.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||3.28%||3.54%|
|Median 3 years||45.13%||0.42%|
|Median 5 years||64.76%||12.33%|
|10 years average annual||6.71%||3.64%|
|Weekly media advert. rent||$500||$370|
|Time on Market||53.7 days||71.3 days|
|Gross Rental Yield Percent||1.86%||3.98%|
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