Responsible lending leeway ‘put to the test’ by COVID-19
The COVID-19 crisis will bring to light the effectiveness of principles-based responsible lending guidance, according to ASIC chair James Sh...
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Property investors have seen a 2.53% gain in LOWER PLENTY based on an increase in median home prices for the past three months.
Based on its average 5-year and quarterly capital gains LOWER PLENTY, 3093 saw average growth in the long term.
The VIC 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 $974,000
Profits averaged 2.15% per annum over a 3-year period, due to an upward trend in home prices in LOWER PLENTY, 3093.
This means, real estate investors could earn a rental income of $545 based on current median home prices for the suburb.
The gross rental yield in LOWER PLENTY, 3093 is 2.91%.
An average of 2.58 real estate transactions take place per month in LOWER PLENTY which translates to 31 per annum.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $974,000 | $610,000 |
| GROWTH REPORT | ||
| Median Quarterly | 2.53% | 8.93% |
| Median 12 month | 3.07% | 17.87% |
| Median 3 years | 6.45% | 10.81% |
| Median 5 years | 37.18% | 29.84% |
| 10 years average annual | 5.47% | 6.03% |
| Weekly media advert. rent | $545 | $400 |
| Time on Market | 68.3 days | 71.0 days |
| Gross Rental Yield Percent | 2.91% | 3.41% |
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