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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 Price | $1,400,500 | $483,000 |
| GROWTH REPORT | ||
| Median Quarterly | 2.75% | -1.38% |
| 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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