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 $1,260,000.
The upward trend in home prices in HIGHETT, 3190 averaged 20.17% per annum over a 3-year period.
Average weekly rents on listings have reached the $570 mark, reflecting a 2.35% increase in returns based on the current median price in HIGHETT.
An average of 11.83 real estate transactions take place per month in HIGHETT which translates to 142 per annum.
142 properties were sold in HIGHETT in 2016, making it the 575th most active market in VIC based on total real estate transactions.
HIGHETT, 3190 places 190th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||22.33%||8.11%|
|Median 3 years||60.51%||13.21%|
|Median 5 years||85.29%||30.43%|
|10 years average annual||10.16%||6.12%|
|Weekly media advert. rent||$570||$405|
|Time on Market||40.7 days||67.8 days|
|Gross Rental Yield Percent||2.35%||3.51%|