How to avoid buying overvalued properties
As stock levels continue to remain low and first-time buyers rush the market, it is becoming increasingly difficult for property investors t...
Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The 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 $540,000.
The upward trend in home prices in EPPING, 3076 averaged 8.05% per annum over a 3-year period.
Average weekly rents on listings have reached the $385 mark, reflecting a 3.71% increase in returns based on the current median price in EPPING.
An average of 25 real estate transactions take place per month in EPPING which translates to 300 per annum.
300 properties were sold in EPPING in 2016, making it the 317th most active market in VIC based on total real estate transactions.
EPPING, 3076 places 546th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $540,000 | $370,000 |
| GROWTH REPORT | ||
| Median Quarterly | -4.09% | 1.79% |
| Median 12 month | -12.2% | -0.27% |
| Median 3 years | 24.14% | 10.28% |
| Median 5 years | 40.44% | 19.26% |
| 10 years average annual | 5.48% | 2.2% |
| Weekly media advert. rent | $385 | $350 |
| Time on Market | 74.0 days | 50.7 days |
| Gross Rental Yield Percent | 3.71% | 4.92% |
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