Property investors have seen a -2.08% drop in ESSENDON based on a decrease in median home prices for the past three months.
Homeowners and real estate investors betting on ESSENDON, 3040 can rest assured about this VIC suburb's performance. The suburb saw median home prices rise by 13.06%.
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 $1,320,000
Profits averaged 16.53% 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 $490 based on current median home prices for the suburb.
The gross rental yield in ESSENDON, 3040 is 1.93%.
An average of 19.42 real estate transactions take place per month in ESSENDON which translates to 233 per annum.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||13.06%||-2.44%|
|Median 3 years||49.58%||-0.89%|
|Median 5 years||54.66%||12.17%|
|10 years average annual||7.13%||4.45%|
|Weekly media advert. rent||$490||$350|
|Time on Market||49.8 days||68.6 days|
|Gross Rental Yield Percent||1.93%||3.89%|