Property investments in MITCHAM did not fare well against the rest of the country last year, registering a median home price decrease of 13.01%.
Figures from the previous quarter show that capital gains for real estate buyers in the territory are low, as opposed to average gains per annum over the past five years.
Based on its average 5-year and quarterly capital gains MITCHAM, 3132 saw average growth in the long term.
Real estate investors could earn a rental income of $435 based on current median home prices for the suburb.
It is expected, nonetheless, for properties to spend some time on the market prior to a successful sale. homes and units usually stay on listing for an average of 61.2 days.
Besides that, the Australian suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.
Property investors perceived the median home price rise to $1,060,000.
MITCHAM ranks 524th on the list of best yielding suburbs for rental properties in VIC, posting a 2.13% return.
Profits due to an upward trend in home prices in MITCHAM, 3132 averaged 6.36% per annum over a 3-year period.
Average weekly rents on listings have reached the $390 mark, reflecting a 3.1% increase in returns based on the current median price in MITCHAM.
An average of 11.75 real estate transactions take place per month in MITCHAM which translates to 141 per annum.
141 properties were sold in MITCHAM during the past year, making it the 313th most active market in VIC based on total real estate transactions.
MITCHAM, 3132 places th in Australia based on median property value growth during the quarter.
Investment properties should not be...
If you are running a genuine rental...
The rental market should be totally...
Independent Financial Adviser
Real Estate Business
Smart Property Investment
Which Investment Property
Australian Law Awards
Corporate Counsel Awards
30 Under Thirty
Partner of the Year
Women in Law
Better Business Summit
Australian Broking Awards
New Broker Academy
Bootcamp SME Broker
Australian Accounting Awards
ifa Excellence Awards
Women in Finance Awards
Adviser Innovation Summit
Tax & Legal