BLACKBURN NORTH, 3130 delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.
Average median house prices in VIC have risen as a whole, pulling BLACKBURN NORTH, 3130 values up and netting property investors a capital gain of 5.6% for the past year.
Investors saw the median home price rise to $1,140,500.
Profits due to an upward trend in home prices in the suburb averaged 12.58% per annum over a 3-year period.
BLACKBURN NORTH now ranks at the 515th place on a list of fastest growing suburbs in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in BLACKBURN NORTH are low, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $450 based on current median home prices.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In BLACKBURN NORTH, homes and units usually stay on listing for an average of 36.2 days.
In 2016, 96 properties were sold in BLACKBURN NORTH during the past year, making it the 12th most active market in VIC based on total real estate transactions.
BLACKBURN NORTH ranks 207th in VIC when it comes to estimated capital gains experienced by property investors over the past three years.
BLACKBURN NORTH, 3130 has a capital gain of 11.19% for the past year, which is lower than average compared to its 62.91% growth within a five-year period.
With the median home price in BLACKBURN NORTH sitting at $795,000, and the average rent at $410, property owners could potentially earn a 2.68% increase in gross rental yield.
Homeowners and real estate investors betting on BLACKBURN NORTH, 3130 can rest assured about this VIC suburb's performance. The suburb saw median home prices rise by 11.19%.
A survey of average capital gains or median home price increase in suburbs across the country shows that BLACKBURN NORTH, 3130 obtained a 7.86% growth over a ten-year period. It ranks 173rd on our list of suburbs that property investors should look into.