Property investors have seen a 1.28% 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 $1,380,500
Profits averaged 16.74% 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 $492.5 based on current median home prices for the suburb.
The gross rental yield in ESSENDON, 3040 is 1.86%.
An average of 16.75 real estate transactions take place per month in ESSENDON which translates to 201 per annum.
Property investments in ESSENDON did not fare well against the rest of the country last year, registering a median home price decrease of 2.44%.
Figures from the previous quarter show that capital gains for real estate buyers in ESSENDON are low, as opposed to average gains per annum over the past five years.
This means, real estate investors could earn a rental income of $360 based on current median home prices for the suburb.
It is expected for properties to spend some time on the market prior to a successful sale. In ESSENDON, homes and units usually stay on listing for an average of 64.0 days.
the VIC suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $483,750
Investors saw the median home price rise to $483,750.
ESSENDON ranks 203rd on the list of best yielding suburbs for rental properties in VIC, posting a 3.87% return.
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