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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 $2,052,500.
The upward trend in home prices in SURREY HILLS, 3127 averaged 9.67% per annum over a 3-year period.
Average weekly rents on listings have reached the $680 mark, reflecting a 1.72% increase in returns based on the current median price in SURREY HILLS.
An average of 10.83 real estate transactions take place per month in SURREY HILLS which translates to 130 per annum.
130 properties were sold in SURREY HILLS in 2016, making it the 617th most active market in VIC based on total real estate transactions.
SURREY HILLS, 3127 places 539th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $2,052,500 | $790,000 |
| GROWTH REPORT | ||
| Median Quarterly | -1.91% | -2.35% |
| Median 12 month | 7.46% | -1.56% |
| Median 3 years | 29.01% | 12.86% |
| Median 5 years | 75.58% | 31.67% |
| 10 years average annual | 8% | 5.42% |
| Weekly media advert. rent | $680 | $450 |
| Time on Market | 71.4 days | 60.2 days |
| Gross Rental Yield Percent | 1.72% | 2.96% |
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