Why commercial is the new residential
Gone are the golden days where you could purchase residential properties with yields of 6, 7 or 8 per cent or build a self-sustaining prope...
Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $515,000.
The upward trend in home prices in CLIFTON SPRINGS, 3222 averaged 8.03% per annum over a 3-year period.
Average weekly rents on listings have reached the $375 mark, reflecting a 3.79% increase in returns based on the current median price in CLIFTON SPRINGS.
An average of 13.58 real estate transactions take place per month in CLIFTON SPRINGS which translates to 163 per annum.
163 properties were sold in CLIFTON SPRINGS in 2016, making it the 551st most active market in VIC based on total real estate transactions.
CLIFTON SPRINGS, 3222 places 148th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $515,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 5.1% | N/A |
| Median 12 month | 6.19% | N/A |
| Median 3 years | 24.1% | N/A |
| Median 5 years | 50.06% | N/A |
| 10 years average annual | 5.18% | N/A |
| Weekly media advert. rent | $375 | N/A |
| Time on Market | 73.6 days | N/A |
| Gross Rental Yield Percent | 3.79% | N/A |
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