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1 MIN READ20 Perth Suburbs That Have Already Surpassed Expert Predictions
The REIWA’s earlier forecasts for Perth’s property market are on track to be exceeded, with 20 suburbs recording bet...
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Ocean GroveOcean Grove - SUBURB PROFILE REPORT
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Property investors have seen a 5.84% gain in OCEAN GROVE based on an increase in median home prices for the past three months.
Homeowners and real estate investors betting on OCEAN GROVE, 3226 can rest assured about this VIC suburb's performance. The suburb saw median home prices rise by 16.26%.
Based on its average 5-year and quarterly capital gains OCEAN GROVE, 3226 saw average growth in the long term.
The VIC 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 $815,000
Profits averaged 8.79% per annum over a 3-year period, due to an upward trend in home prices in OCEAN GROVE, 3226.
This means, real estate investors could earn a rental income of $450 based on current median home prices for the suburb.
The gross rental yield in OCEAN GROVE, 3226 is 2.87%.
An average of 34 real estate transactions take place per month in OCEAN GROVE which translates to 408 per annum.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $815,000 | $675,000 |
| GROWTH REPORT | ||
| Median Quarterly | 5.84% | 3.45% |
| Median 12 month | 16.26% | 8.48% |
| Median 3 years | 26.36% | 34.46% |
| Median 5 years | 59.18% | 60.71% |
| 10 years average annual | 6.59% | 5.74% |
| Weekly media advert. rent | $450 | $400 |
| Time on Market | 90.4 days | 103.9 days |
| Gross Rental Yield Percent | 2.87% | 3.08% |
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