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 $1,437,500.
The upward trend in home prices in PARK ORCHARDS, 3114 averaged 10.11% per annum over a 3-year period.
Average weekly rents on listings have reached the $650 mark, reflecting a 2.35% increase in returns based on the current median price in PARK ORCHARDS.
An average of 1.92 real estate transactions take place per month in PARK ORCHARDS which translates to 23 per annum.
23 properties were sold in PARK ORCHARDS in 2016, making it the 405th most active market in VIC based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||7.68%||N/A|
|Median 3 years||30.33%||N/A|
|Median 5 years||51.16%||N/A|
|10 years average annual||7.79%||N/A|
|Weekly media advert. rent||$650||N/A|
|Time on Market||39.0 days||N/A|
|Gross Rental Yield Percent||2.35%||N/A|