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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 $975,000.
The upward trend in home prices in CHELSEA HEIGHTS, 3196 averaged 9.43% per annum over a 3-year period.
Average weekly rents on listings have reached the $495 mark, reflecting a 2.64% increase in returns based on the current median price in CHELSEA HEIGHTS.
An average of 5.75 real estate transactions take place per month in CHELSEA HEIGHTS which translates to 69 per annum.
69 properties were sold in CHELSEA HEIGHTS in 2016, making it the 99th most active market in VIC based on total real estate transactions.
CHELSEA HEIGHTS, 3196 places 502nd in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||20%||10.09%|
|Median 3 years||28.29%||22.72%|
|Median 5 years||51.87%||48.28%|
|10 years average annual||8.26%||10.55%|
|Weekly media advert. rent||$495||$435|
|Time on Market||20.6 days||28.0 days|
|Gross Rental Yield Percent||2.64%||3.18%|