CHELSEA HEIGHTS, 3196 ranks 773rd on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 13.9% for property investors.
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 $766,000.
The upward trend in home prices in CHELSEA HEIGHTS, 3196 averaged 15.56% per annum over a 3-year period.
Average weekly rents on listings have reached the $450 mark, reflecting a 3.05% increase in returns based on the current median price in CHELSEA HEIGHTS.
An average of 4.83 real estate transactions take place per month in CHELSEA HEIGHTS which translates to 58 per annum.
58 properties were sold in CHELSEA HEIGHTS in 2016, making it the 142nd most active market in VIC based on total real estate transactions.
CHELSEA HEIGHTS, 3196 places 321st in Australia based on median property value growth during the quarter.
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 $644,100.
Average median unit prices in VIC have risen as a whole, pulling CHELSEA HEIGHTS, 3196 values up and netting property investors a capital gain of 32.12% for the past year.
Investors saw the median home price rise to $644,100.
The upward trend in home prices in CHELSEA HEIGHTS, 3196 averaged 20.34% per annum over a 3-year period.
CHELSEA HEIGHTS now ranks at the 76th place on a list of fastest growing suburbs in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in CHELSEA HEIGHTS are low, as opposed to average gains per annum over the past five years.
Real estate investors could earn a rental income of $400 based on current median home prices for the suburb.
It is expected for properties to spend some time on the market prior to a successful sale. In CHELSEA HEIGHTS, homes and units usually stay on listing for an average of 0.0 days.
14 properties were sold in CHELSEA HEIGHTS in 2016, making it the 320th most active market in VIC based on total real estate transactions.
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