Mckinnon

POSTAL CODE: VIC, 3204

HOUSE

UNIT

Based on its average 5-year and quarterly capital gains MCKINNON, 3204 saw average growth in the long term.

A survey of average capital gains or median home price increase in suburbs across the country shows that MCKINNON, 3204 obtained a 3.5% growth over a ten-year period. It ranks 3428th on our list of suburbs that property investors should look into.

MCKINNON, 3204 in VIC belongs to the local government area of Glen Eira.

MCKINNON, 3204 has a capital gain of 1.14% for the past year, which is lower than average compared to its 10.89% growth within a five-year period.

With the median home price in MCKINNON sitting at $1,866,000, and the average rent at $1000, property owners could potentially earn a 2.79% increase in gross rental yield.

Figures from the previous quarter show that capital gains for real estate buyers in MCKINNON are low, as opposed to average gains per annum over the past five years.

MCKINNON, 3204 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 $867,500.

Profits due to an downward trend in home prices in MCKINNON, 3204 averaged -4.42% per annum over a 3-year period.

Home owners selling their properties and realtors in MCKINNON usually have to wait an average of 55.8 days days before their assets are lifted off the market.

Average weekly rents on listings have reached the $725 mark, reflecting a 4.35% increase in returns based on the current median price in MCKINNON.

MCKINNON, 3204 places 327th in Australia based on median property value growth during the quarter.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$1,866,000	$867,500
Growth Report
Median Quarterly	0.81%	-4.57%
Median 12 month	1.14%	-0.86%
Median 3 years	-6.42%	-13.25%
Median 5 years	10.89%	-12.81%
10 years average annual	3.5%	4.11%
Weekly media advert. rent	$1,000	$725
Time on Market	81 days	55.8 days
Gross Rental Yield Percent	2.79%	4.35%

Demographics (Median Values)*

Total Population 30635

Weekly Household Income 1801

Household Size 2.70

Average Age 38

Monthly Loan Repayment 2167

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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