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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 $2,290,000.
The upward trend in home prices in SURREY HILLS, 3127 averaged 8.32% per annum over a 3-year period.
Average weekly rents on listings have reached the $720 mark, reflecting a 1.63% increase in returns based on the current median price in SURREY HILLS.
An average of 14.33 real estate transactions take place per month in SURREY HILLS which translates to 172 per annum.
172 properties were sold in SURREY HILLS in 2016, making it the 547th most active market in VIC based on total real estate transactions.
SURREY HILLS, 3127 places 372nd in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||21.81%||9.2%|
|Median 3 years||24.97%||17.92%|
|Median 5 years||29.56%||26.9%|
|10 years average annual||7.39%||4.69%|
|Weekly media advert. rent||$720||$450|
|Time on Market||64.5 days||48.9 days|
|Gross Rental Yield Percent||1.63%||2.58%|