House prices see largest price drop for last 7 years
A property institute has claimed house prices have seen their largest drop since December 2011, giving buyers the opportunity to add to thei...
BROOKFIELD, 3338 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 BROOKFIELD, 3338 values up and netting property investors a capital gain of 23.38% for the past year.
Investors saw the median home price rise to $475,000.
Profits due to an upward trend in home prices in the suburb averaged 13.24% per annum over a 3-year period.
BROOKFIELD now ranks at the 132nd 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 BROOKFIELD 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 $347.5 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 BROOKFIELD, homes and units usually stay on listing for an average of 36.2 days.
In 2016, 214 properties were sold in BROOKFIELD during the past year, making it the 440th most active market in VIC based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $475,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 3.94% | N/A |
| Median 12 month | 23.38% | N/A |
| Median 3 years | 39.71% | N/A |
| Median 5 years | 43.07% | N/A |
| 10 years average annual | 6.16% | N/A |
| Weekly media advert. rent | $347.5 | N/A |
| Time on Market | 36.2 days | N/A |
| Gross Rental Yield Percent | 3.8% | N/A |
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