$3m-plus suburbs double during the pandemic as allure of luxury property grows
With more Australians racking up more savings than ever before and affordability improving across the real estate market, the allure of luxu...
The suburb’s capital gain of 7.9% for the past year is higher than average compared to its 21.69% growth within a five-year period.
Also in BLACKBURN, the median home price is sitting at $1,400,000, and the average rent at $477.5, this suggests property owners could potentially earn a 1.77% increase in gross rental yield.
Property investors have seen a 1.82% gain in BLACKBURN based on an increase in median home prices for the past three months.
A survey of average capital gains or median home price increase in suburbs across the country shows that this suburb obtained a 5.7% growth over a ten-year period. It ranks 1216th on our list of suburbs that property investors should look into.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $1,400,000 | $720,500 |
| GROWTH REPORT | ||
| Median Quarterly | 1.82% | -4.19% |
| Median 12 month | 7.9% | 4.8% |
| Median 3 years | -0.71% | 10% |
| Median 5 years | 21.69% | 12.31% |
| 10 years average annual | 5.7% | 4.02% |
| Weekly media advert. rent | $477.5 | $400 |
| Time on Market | 41.8 days | 52.8 days |
| Gross Rental Yield Percent | 1.77% | 2.89% |
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