Heywood

HEYWOOD, 3304 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 $175,000.

Profits due to an upward trend in home prices in the suburb averaged 2.24% per annum over a 3-year period.

HEYWOOD now ranks at the 592nd place on a list of fastest growing suburbs in the territory.

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

Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In HEYWOOD, homes and units usually stay on listing for an average of 58.4 days.

In 2016, 29 properties were sold in HEYWOOD during the past year, making it the 358th most active market in VIC based on total real estate transactions.