FOREST HILL, 3131 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 FOREST HILL, 3131 values up and netting property investors a capital gain of 2.45% for the past year.
Investors saw the median home price rise to $1,022,500.
Profits due to an upward trend in home prices in the suburb averaged 12.39% per annum over a 3-year period.
FOREST HILL now ranks at the 628th 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 $430 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 41.8 days.
In 2016, 122 properties were sold in FOREST HILL during the past year, making it the 640th most active market in VIC based on total real estate transactions.
FOREST HILL ranks 169th in VIC when it comes to estimated capital gains experienced by property investors over the past three years.
FOREST HILL, 3131 has a capital gain of 7.54% for the past year, which is lower than average compared to its 44.46% growth within a five-year period.
With the median home price in FOREST HILL sitting at $677,500, and the average rent at $400, property owners could potentially earn a 3.07% increase in gross rental yield.
Property investors have seen a -3.56% drop in FOREST HILL based on a decrease in median home prices for the past three months.
A survey of average capital gains or median home price increase in suburbs across the country shows that FOREST HILL, 3131 obtained a 7.71% growth over a ten-year period. It ranks 199th on our list of suburbs that property investors should look into.