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 $1,061,500.
The upward trend in home prices in MENTONE, 3194 averaged 17.4% per annum over a 3-year period.
Average weekly rents on listings have reached the $520 mark, reflecting a 2.55% increase in returns based on the current median price in MENTONE.
An average of 11.25 real estate transactions take place per month in MENTONE which translates to 135 per annum.
135 properties were sold in MENTONE in 2016, making it the 595th most active market in VIC based on total real estate transactions.
MENTONE, 3194 places 21st in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $1,061,500 | $540,000 |
| GROWTH REPORT | ||
| Median Quarterly | 13.53% | 0% |
| Median 12 month | 17.49% | 7.01% |
| Median 3 years | 52.19% | 9.09% |
| Median 5 years | 68.49% | 24.28% |
| 10 years average annual | 7.57% | 8.3% |
| Weekly media advert. rent | $520 | $360 |
| Time on Market | 33.7 days | 61.0 days |
| Gross Rental Yield Percent | 2.55% | 3.47% |
If Apra think they are going to lower...
Hopefully this will increase the value...
Great post! I must appreciate that you...