Property market update: Melbourne, December 2018
After an unprecedented property boom, the Melbourne market started to soften in 2018—a trend further enhanced by the tightening of credit ...
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 $1,700,000.
The upward trend in home prices in BEAUMARIS, 3193 averaged 13.5% per annum over a 3-year period.
Average weekly rents on listings have reached the $850 mark, reflecting a 2.6% increase in returns based on the current median price in BEAUMARIS.
An average of 12.42 real estate transactions take place per month in BEAUMARIS which translates to 149 per annum.
149 properties were sold in BEAUMARIS in 2016, making it the 575th most active market in VIC based on total real estate transactions.
BEAUMARIS, 3193 places 221st in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $1,700,000 | $922,500 |
| GROWTH REPORT | ||
| Median Quarterly | 2.41% | 2.5% |
| Median 12 month | 10.5% | 5.11% |
| Median 3 years | 40.5% | 2.93% |
| Median 5 years | 70% | 25.25% |
| 10 years average annual | 6.31% | 4.94% |
| Weekly media advert. rent | $850 | $500 |
| Time on Market | 60.0 days | 64.0 days |
| Gross Rental Yield Percent | 2.6% | 2.82% |
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