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 $1,388,500.
The upward trend in home prices in BLACKBURN SOUTH, 3130 averaged 2.64% per annum over a 3-year period.
Average weekly rents on listings have reached the $650 mark, reflecting a 2.43% increase in returns based on the current median price in BLACKBURN SOUTH.
An average of 10.08 real estate transactions take place per month in BLACKBURN SOUTH which translates to 121 per annum.
121 properties were sold in BLACKBURN SOUTH in 2016, making it the 649th most active market in VIC based on total real estate transactions.
BLACKBURN SOUTH, 3130 places 528th 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 $944,000.
Average median unit prices in VIC have risen as a whole, pulling BLACKBURN SOUTH, 3130 values up and netting property investors a capital gain of 0.96% for the past year.
Investors saw the median home price rise to $944,000.
The downward trend in home prices in BLACKBURN SOUTH, 3130 averaged -1.06% per annum over a 3-year period.
BLACKBURN SOUTH now ranks at the 14th 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 $595 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 92.2 days.
26 properties were sold in BLACKBURN SOUTH in 2016, making it the 217th most active market in VIC based on total real estate transactions.