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Melbourne has been listed as an international investment hotspot and its increase in office investment is helping push up residential invest...
Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The 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 $1,680,000.
The upward trend in home prices in ALPHINGTON, 3078 averaged 13.37% per annum over a 3-year period.
Average weekly rents on listings have reached the $690 mark, reflecting a 2.14% increase in returns based on the current median price in ALPHINGTON.
An average of 3.67 real estate transactions take place per month in ALPHINGTON which translates to 44 per annum.
44 properties were sold in ALPHINGTON in 2016, making it the 216th most active market in VIC based on total real estate transactions.
ALPHINGTON, 3078 places 580th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $1,680,000 | $610,000 |
| GROWTH REPORT | ||
| Median Quarterly | -2.61% | 1.67% |
| Median 12 month | -2.18% | -3.17% |
| Median 3 years | 40.12% | 2.01% |
| Median 5 years | 59.62% | 29.79% |
| 10 years average annual | 8.15% | 6.98% |
| Weekly media advert. rent | $690 | $400 |
| Time on Market | 36.0 days | 68.1 days |
| Gross Rental Yield Percent | 2.14% | 3.41% |
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