How long can ‘JobKeepers’ afford their rent?
Following a raft of fiscal changes to protect businesses and workers, the focus has shifted to housing, with landlords and tenants urged to ...
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FOREST HILL, 3131 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 $893,000.
Profits due to an downward trend in home prices in the suburb averaged -1.34% per annum over a 3-year period.
FOREST HILL now ranks at the 223rd 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 FOREST HILL 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 FOREST HILL, homes and units usually stay on listing for an average of 46.1 days.
In 2016, 106 properties were sold in FOREST HILL during the past year, making it the 691st most active market in VIC based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $893,000 | $721,500 |
| GROWTH REPORT | ||
| Median Quarterly | 3.12% | 12.15% |
| Median 12 month | -4.75% | 37.43% |
| Median 3 years | -4.03% | 20.7% |
| Median 5 years | 23.86% | 25.1% |
| 10 years average annual | 6.53% | 7.39% |
| Weekly media advert. rent | $450 | $420 |
| Time on Market | 46.1 days | 121.4 days |
| Gross Rental Yield Percent | 2.62% | 3.03% |
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