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 $1,380,000.
The upward trend in home prices in BLACKBURN SOUTH, 3130 averaged 2.46% per annum over a 3-year period.
Average weekly rents on listings have reached the $640 mark, reflecting a 2.41% increase in returns based on the current median price in BLACKBURN SOUTH.
An average of 9.75 real estate transactions take place per month in BLACKBURN SOUTH which translates to 117 per annum.
117 properties were sold in BLACKBURN SOUTH in 2016, making it the 672nd most active market in VIC based on total real estate transactions.
BLACKBURN SOUTH, 3130 places 541st in Australia based on median property value growth during the quarter.
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 $940,000.
Investors saw the median home price rise to $940,000.
The downward trend in home prices in BLACKBURN SOUTH, 3130 averaged -0.45% per annum over a 3-year period.
BLACKBURN SOUTH now ranks at the 10th 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 SOUTH are high, as opposed to average gains per annum over the past five years.
Real estate investors could earn a rental income of $630 based on current median home prices for the suburb.
It is expected for properties to spend some time on the market prior to a successful sale. In BLACKBURN SOUTH, homes and units usually stay on listing for an average of 76.7 days.
25 properties were sold in BLACKBURN SOUTH in 2016, making it the 224th most active market in VIC based on total real estate transactions.