487 Markets Join Million-dollar Property Club: CoreLogic
Australia’s property million-dollar club has continued to grow, as new research shows that more than one in five homes...
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 $1,410,000.
The upward trend in home prices in MENTONE, 3194 averaged 14.96% per annum over a 3-year period.
Average weekly rents on listings have reached the $650 mark, reflecting a 2.4% increase in returns based on the current median price in MENTONE.
An average of 10.25 real estate transactions take place per month in MENTONE which translates to 123 per annum.
123 properties were sold in MENTONE in 2016, making it the 683rd most active market in VIC based on total real estate transactions.
MENTONE, 3194 places 210th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||34.03%||1.01%|
|Median 3 years||44.88%||25.95%|
|Median 5 years||55.8%||28.2%|
|10 years average annual||8.12%||5.27%|
|Weekly media advert. rent||$650||$395|
|Time on Market||44.7 days||55.6 days|
|Gross Rental Yield Percent||2.4%||2.94%|