Property investments in BALACLAVA did not fare well against the rest of the country last year, registering a median home price decrease of 20.67%.
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 BALACLAVA, 3183 saw average growth in the long term.
Real estate investors could earn a rental income of $625 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 0.0 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 $1,401,000.
BALACLAVA ranks 484th on the list of best yielding suburbs for rental properties in VIC, posting a 2.32% return.
Profits due to an upward trend in home prices in BALACLAVA, 3183 averaged 9.8% per annum over a 3-year period.
Average weekly rents on listings have reached the $400 mark, reflecting a 3.62% increase in returns based on the current median price in BALACLAVA.
An average of 8 real estate transactions take place per month in BALACLAVA which translates to 96 per annum.
96 properties were sold in BALACLAVA during the past year, making it the 6th most active market in VIC based on total real estate transactions.
BALACLAVA, 3183 places 229th in Australia based on median property value growth during the quarter.
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