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 $1,567,000.
The upward trend in home prices in PARK ORCHARDS, 3114 averaged 11.43% per annum over a 3-year period.
Average weekly rents on listings have reached the $680 mark, reflecting a 2.26% increase in returns based on the current median price in PARK ORCHARDS.
An average of 1.83 real estate transactions take place per month in PARK ORCHARDS which translates to 22 per annum.
22 properties were sold in PARK ORCHARDS in 2016, making it the 422nd most active market in VIC based on total real estate transactions.
PARK ORCHARDS, 3114 places 50th in Australia based on median property value growth during the quarter.
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