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 $1,195,000.
The upward trend in home prices in BLACKBURN SOUTH, 3130 averaged 20.35% per annum over a 3-year period.
Average weekly rents on listings have reached the $470 mark, reflecting a 2.05% 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 656th most active market in VIC based on total real estate transactions.
BLACKBURN SOUTH, 3130 places 204th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||23.07%||-1.32%|
|Median 3 years||61.05%||20.48%|
|Median 5 years||96.87%||55.6%|
|10 years average annual||11.1%||8.21%|
|Weekly media advert. rent||$470||$415|
|Time on Market||62.5 days||75.6 days|
|Gross Rental Yield Percent||2.05%||2.88%|