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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 $1,005,000.
The upward trend in home prices in MENTONE, 3194 averaged 7.4% per annum over a 3-year period.
Average weekly rents on listings have reached the $550 mark, reflecting a 2.85% increase in returns based on the current median price in MENTONE.
An average of 13.25 real estate transactions take place per month in MENTONE which translates to 159 per annum.
159 properties were sold in MENTONE in 2016, making it the 550th most active market in VIC based on total real estate transactions.
MENTONE, 3194 places 632nd in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $1,005,000 | $555,000 |
| GROWTH REPORT | ||
| Median Quarterly | -5.28% | -0.54% |
| Median 12 month | -5.46% | 5.66% |
| Median 3 years | 22.19% | 16.84% |
| Median 5 years | 47.04% | 20.33% |
| 10 years average annual | 5% | 5.62% |
| Weekly media advert. rent | $550 | $390 |
| Time on Market | 51.2 days | 47.7 days |
| Gross Rental Yield Percent | 2.85% | 3.65% |
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