Property market update: Melbourne, April 2020
Several weeks after lockdown measures have been passed due to the ongoing COVD-19 pandemic, how is the Melbourne property market faring in t...
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Property investors have seen a 2.18% gain in RINGWOOD based on an increase in median home prices for the past three months.
Based on its average 5-year and quarterly capital gains RINGWOOD, 3134 saw average growth in the long term.
The VIC 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 $818,500
Profits averaged 0.56% per annum over a 3-year period, due to an upward trend in home prices in RINGWOOD, 3134.
This means, real estate investors could earn a rental income of $450 based on current median home prices for the suburb.
The gross rental yield in RINGWOOD, 3134 is 2.86%.
An average of 14.67 real estate transactions take place per month in RINGWOOD which translates to 176 per annum.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $818,500 | $527,000 |
| GROWTH REPORT | ||
| Median Quarterly | 2.18% | -0.89% |
| Median 12 month | -2.59% | -0.57% |
| Median 3 years | 1.68% | 5.4% |
| Median 5 years | 24.77% | 19.23% |
| 10 years average annual | 6% | 4.12% |
| Weekly media advert. rent | $450 | $395 |
| Time on Market | 53.9 days | 73.2 days |
| Gross Rental Yield Percent | 2.86% | 3.9% |
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