MOORABBIN, 3189 ranks 574th on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 16.28% for property investors.
Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The 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 $1,167,500.
The upward trend in home prices in MOORABBIN, 3189 averaged 18.21% per annum over a 3-year period.
Average weekly rents on listings have reached the $530 mark, reflecting a 2.36% increase in returns based on the current median price in MOORABBIN.
An average of 5 real estate transactions take place per month in MOORABBIN which translates to 60 per annum.
60 properties were sold in MOORABBIN in 2016, making it the 137th most active market in VIC based on total real estate transactions.
MOORABBIN, 3189 places 554th in Australia based on median property value growth during the quarter.
The 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 $670,000.
Average median unit prices in VIC have risen as a whole, pulling MOORABBIN, 3189 values up and netting property investors a capital gain of 17.55% for the past year.
Investors saw the median home price rise to $670,000.
The upward trend in home prices in MOORABBIN, 3189 averaged 14.18% per annum over a 3-year period.
MOORABBIN now ranks at the 101st 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 MOORABBIN are low, as opposed to average gains per annum over the past five years.
Real estate investors could earn a rental income of $430 based on current median home prices for the suburb.
It is expected for properties to spend some time on the market prior to a successful sale. In MOORABBIN, homes and units usually stay on listing for an average of 60.7 days.
43 properties were sold in MOORABBIN in 2016, making it the 115th most active market in VIC based on total real estate transactions.
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