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1 MIN READDemand For Homes Stays High In 1 State While The Rest Fall Back
Rising interest rates have eased demand from potential buyers, which has been reflected in the slowing of home price gro...
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Mill ParkMill Park - SUBURB PROFILE REPORT
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Property investors enjoyed capital gains of 10.14% 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 6.61% growth over a ten-year period. It ranks 1644th on our list of suburbs that property investors should look into.
MILL PARK, 3082 has a capital gain of 10.14% for the past year, which is higher than average compared to its 35.71% growth within a five-year period.
With the median home price in MILL PARK sitting at $760,000, and the average rent at $400, property owners could potentially earn a 2.74% 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 (C).
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $760,000 | $514,250 |
| GROWTH REPORT | ||
| Median Quarterly | 1.77% | -1.2% |
| Median 12 month | 10.14% | 11.79% |
| Median 3 years | 17.83% | 9.65% |
| Median 5 years | 35.71% | 31.35% |
| 10 years average annual | 6.61% | 4.08% |
| Weekly media advert. rent | $400 | $350 |
| Time on Market | 41.9 days | 65.2 days |
| Gross Rental Yield Percent | 2.74% | 3.54% |
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