‘Great buying opportunities’ for careful investors looking at new-builds
Situations like Sydney’s Opal Tower fiasco have buyers cautious of the new-build market, but there are bargains to be had for those who ar...
Property investors enjoyed capital gains of 8.87% over the last 12 months in MILL PARK, translating to lower returns compared with its peers in VIC.
A survey of average capital gains or median home price increase in suburbs across the country shows that the VIC suburb obtained a 7.93% growth over a ten-year period. It ranks 551st on our list of suburbs that property investors should look into.
MILL PARK, 3082 has a capital gain of 8.87% for the past year, which is lower than average compared to its 68.75% growth within a five-year period.
With the median home price in MILL PARK sitting at $675,000, and the average rent at $385, property owners could potentially earn a 2.97% increase in gross rental yield.
Figures from the previous quarter show that capital gains for real estate buyers in MILL PARK are low, as opposed to average gains per annum over the past five years.
MILL PARK, 3082 in VIC belongs to the local government area of Whittlesea.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $675,000 | $459,000 |
| GROWTH REPORT | ||
| Median Quarterly | -0.74% | 2% |
| Median 12 month | 8.87% | 9.81% |
| Median 3 years | 53.06% | 22.4% |
| Median 5 years | 68.75% | 40.37% |
| 10 years average annual | 7.93% | 5.43% |
| Weekly media advert. rent | $385 | $340 |
| Time on Market | 48.2 days | 39.6 days |
| Gross Rental Yield Percent | 2.97% | 3.85% |
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