Office investment in Melbourne is boosting resi investment
Melbourne has been listed as an international investment hotspot and its increase in office investment is helping push up residential invest...
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 $1,337,500.
The upward trend in home prices in BOX HILL SOUTH, 3128 averaged 9.87% per annum over a 3-year period.
Average weekly rents on listings have reached the $510 mark, reflecting a 1.98% increase in returns based on the current median price in BOX HILL SOUTH.
An average of 8.58 real estate transactions take place per month in BOX HILL SOUTH which translates to 103 per annum.
103 properties were sold in BOX HILL SOUTH in 2016, making it the 718th most active market in VIC based on total real estate transactions.
BOX HILL SOUTH, 3128 places 628th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $1,337,500 | $695,000 |
| GROWTH REPORT | ||
| Median Quarterly | -4.8% | -4.91% |
| Median 12 month | 1.87% | -14.36% |
| Median 3 years | 29.6% | -5.43% |
| Median 5 years | 79.29% | 39.56% |
| 10 years average annual | 8.56% | 6.01% |
| Weekly media advert. rent | $510 | $475 |
| Time on Market | 50.5 days | 56.2 days |
| Gross Rental Yield Percent | 1.98% | 3.55% |
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