CARRUM, 3197 ranks 1909th on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 5.94% 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 $825,000.
The upward trend in home prices in CARRUM, 3197 averaged 17.78% per annum over a 3-year period.
Average weekly rents on listings have reached the $395 mark, reflecting a 2.49% increase in returns based on the current median price in CARRUM.
An average of 4.58 real estate transactions take place per month in CARRUM which translates to 55 per annum.
55 properties were sold in CARRUM in 2016, making it the 151st most active market in VIC based on total real estate transactions.
CARRUM, 3197 places 509th 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 $650,000.
Average median unit prices in VIC have risen as a whole, pulling CARRUM, 3197 values up and netting property investors a capital gain of 18.18% for the past year.
Investors saw the median home price rise to $650,000.
The upward trend in home prices in CARRUM, 3197 averaged 11.34% per annum over a 3-year period.
CARRUM now ranks at the 74th 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 CARRUM are low, as opposed to average gains per annum over the past five years.
Real estate investors could earn a rental income of $417.5 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 CARRUM, homes and units usually stay on listing for an average of 55.0 days.
66 properties were sold in CARRUM in 2016, making it the 55th most active market in VIC based on total real estate transactions.
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