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CLIFTON HILL, 3068 delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.
Average median house prices in VIC have risen as a whole, pulling CLIFTON HILL, 3068 values up and netting property investors a capital gain of 26.67% for the past year.
Investors saw the median home price rise to $1,710,000.
Profits due to an upward trend in home prices in the suburb averaged 8.89% per annum over a 3-year period.
CLIFTON HILL now ranks at the 303rd place on a list of fastest growing suburbs in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in CLIFTON HILL are low, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $690 based on current median home prices.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In CLIFTON HILL, homes and units usually stay on listing for an average of 75.5 days.
In 2016, 83 properties were sold in CLIFTON HILL during the past year, making it the 61st most active market in VIC based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||26.67%||-6.47%|
|Median 3 years||26.67%||7.91%|
|Median 5 years||41.32%||7.87%|
|10 years average annual||8.5%||4.44%|
|Weekly media advert. rent||$690||$440|
|Time on Market||75.5 days||54.2 days|
|Gross Rental Yield Percent||2.1%||2.83%|