MELTON WEST, 3337 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.
Average median house prices in VIC have risen as a whole, pulling MELTON WEST, 3337 values up and netting property investors a capital gain of 18.99% for the past year.
Investors saw the median home price rise to $425,389.
Profits due to an upward trend in home prices in the suburb averaged 12.11% per annum over a 3-year period.
MELTON WEST now ranks at the 193rd 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 MELTON WEST are low, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $330 based on current median home prices.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In MELTON WEST, homes and units usually stay on listing for an average of 30.0 days.
In 2016, 260 properties were sold in MELTON WEST during the past year, making it the 362nd most active market in VIC based on total real estate transactions.
MELTON WEST ranks 54th in VIC when it comes to estimated capital gains experienced by property investors over the past three years.
MELTON WEST, 3337 has a capital gain of 31.48% for the past year, which is higher than average compared to its 37.86% growth within a five-year period.
MELTON WEST, 3337 ranks 33rd on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 31.48% for property investors last year.
With the median home price in MELTON WEST sitting at $355,000, and the average rent at $277.5, property owners could potentially earn a 4.06% increase in gross rental yield.
Property investors have seen a 16.39% gain in MELTON WEST based on an increase in median home prices for the past three months.
Homeowners and real estate investors betting on MELTON WEST, 3337 can rest assured about this VIC suburb's performance. The suburb saw median home prices rise by 31.48%.
A survey of average capital gains or median home price increase in suburbs across the country shows that MELTON WEST, 3337 obtained a 7.3% growth over a ten-year period. It ranks 273rd on our list of suburbs that property investors should look into.