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Property investors enjoyed capital gains of 6.55% over the last 12 months in ORMOND, translating to lower returns compared with its peers in VIC.
A survey of average capital gains or median home price increase in suburbs across the country shows that the VIC suburb obtained a 7.42% growth over a ten-year period. It ranks 796th on our list of suburbs that property investors should look into.
ORMOND, 3204 has a capital gain of 6.55% for the past year, which is lower than average compared to its 71.23% growth within a five-year period.
With the median home price in ORMOND sitting at $1,627,500, and the average rent at $657.5, property owners could potentially earn a 2.1% increase in gross rental yield.
Figures from the previous quarter show that capital gains for real estate buyers in ORMOND are low, as opposed to average gains per annum over the past five years.
ORMOND, 3204 in VIC belongs to the local government area of Glen Eira.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||6.55%||3.06%|
|Median 3 years||37.63%||12.48%|
|Median 5 years||71.23%||18.4%|
|10 years average annual||7.42%||4.92%|
|Weekly media advert. rent||$657.5||$380|
|Time on Market||64.6 days||60.4 days|
|Gross Rental Yield Percent||2.1%||3.55%|
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