Office investment in Melbourne is boosting resi investment
Melbourne has been listed as an international investment hotspot and its increase in office investment is helping push up residential invest...
Homeowners and real estate investors betting on PORT FAIRY, 3284 can rest assured about this VIC suburb's performance. The suburb saw median home prices rise by 29.77%.
A steady increase in median property prices over a five-year period in the suburb translates to a 44.12% capital gain.
Property investors in PORT FAIRY enjoyed capital gains of 29.77% over the last 12 months translating to lower returns compared with its peers in the territory.
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 $612,500.
Profits due to an upward trend in home prices there averaged 14.71% per annum over a 3-year period.
Home owners selling their properties and realtors in PORT FAIRY usually have to wait an average of 98.4 days days before their assets are lifted off the market.
Average weekly rents on listings have reached the $360 mark, reflecting a 3.06% increase in returns based on the current median price in PORT FAIRY.
PORT FAIRY, 3284 places 32nd in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $612,500 | $455,000 |
| GROWTH REPORT | ||
| Median Quarterly | 9.38% | -4.21% |
| Median 12 month | 29.77% | 7.06% |
| Median 3 years | 44.12% | 37.88% |
| Median 5 years | 52.17% | N/A |
| 10 years average annual | 7.31% | 8.91% |
| Weekly media advert. rent | $360 | N/A |
| Time on Market | 98.4 days | 0.0 days |
| Gross Rental Yield Percent | 3.06% | N/A |
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