ATO Set To Scrutinise Landlords’ Tax Returns
The Australian Taxation Office (ATO) has warned landlords to double-check their rental income declarations and deduction...
Property investors enjoyed capital gains of 21.91% over the last 12 months in ROCKBANK, translating to lower returns compared with its peers in VIC.
Figures from the previous quarter show that capital gains for real estate buyers in ROCKBANK are low, as opposed to average gains per annum over the past five years.
The suburb posted a 11.28% growth in median prices over a three-year period. This is considerably lower than the gains it recorded over the past year.
This number can mean, real estate investors could earn a rental income of $392.5 based on current median home prices for the suburb.
On average, rents on listings have reached the $392.5 mark, reflecting a 3.76% increase in returns based on the current median price in ROCKBANK.
ROCKBANK, 3335 ranks 259th in VIC in terms of median property value increase and capital gains, based on year-to-date figures.
While it ranks 114th on the list of best yielding suburbs for rental properties in VIC, posting a 3.76% return.
Ninth on our list of Victoria suburbs with highest yielding rental returns, the landlocked township of Rockbank is growing in popularity among property investors due to its array of value-for-money properties. Not to be ignored is its home median price growth, which reflects an increase close to 40 per cent in the past 12 months alone. Forecasts are rosy for the then sedentary town as newly proposed housing developments are set in motion, adding living spaces to at least 25,000 people.
Located 29 kilometres north-west of Melbourne’s Central Business District, Rockbank, Victoria, will see the installment of new communities, schools, parklands and facilities to cater to its current and incoming residents. It lies in the middle of suburbs Melton and Caroline Springs. Majority of Rockbank real estate come in the form of separate houses, and home owners are usually composed of families and couples.
Rockbank: Things to do
Though Rockbank has a reputation for being a seemingly sleepy town, don’t let appearances fool you. Residents won’t run out of things to do as the township is known for its wine district, which houses award-winning wineries such as the Galli Estate Winery, as well as its rich agricultural history. Victoria’s annual Olive Festival is also held in Rockbank.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||21.91%||N/A|
|Median 3 years||11.28%||N/A|
|Median 5 years||62.43%||N/A|
|10 years average annual||11.61%||N/A|
|Weekly media advert. rent||$392.5||N/A|
|Time on Market||65.8 days||N/A|
|Gross Rental Yield Percent||3.76%||N/A|