Blackburn North

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 22.3% for the past year.

Investors saw the median home price rise to $1,306,750.

Profits due to an upward trend in home prices in the suburb averaged 9.69% 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 $490 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 31.4 days.

In 2016, 114 properties were sold in BLACKBURN NORTH during the past year, making it the 729th most active market in VIC based on total real estate transactions.