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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HIGHETT, 3190 ranks 1541st on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 2.51% 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 $1,225,000.
The upward trend in home prices in HIGHETT, 3190 averaged 1.87% per annum over a 3-year period.
Average weekly rents on listings have reached the $620 mark, reflecting a 2.63% increase in returns based on the current median price in HIGHETT.
An average of 9.67 real estate transactions take place per month in HIGHETT which translates to 116 per annum.
116 properties were sold in HIGHETT in 2016, making it the 659th most active market in VIC based on total real estate transactions.
HIGHETT, 3190 places 109th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $1,225,000 | $682,500 |
| GROWTH REPORT | ||
| Median Quarterly | 4.84% | 0.37% |
| Median 12 month | 2.51% | 17.67% |
| Median 3 years | 5.6% | 16.92% |
| Median 5 years | 43.27% | 22.42% |
| 10 years average annual | 6.51% | 4.19% |
| Weekly media advert. rent | $620 | $467.5 |
| Time on Market | 66.6 days | 63.4 days |
| Gross Rental Yield Percent | 2.63% | 3.56% |
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