$3m-plus suburbs double during the pandemic as allure of luxury property grows
With more Australians racking up more savings than ever before and affordability improving across the real estate market, the allure of luxu...
Property investments in INVERMAY PARK did not fare well against the rest of the country last year, registering a median home price decrease of 3.6%.
Figures from the previous quarter show that capital gains for real estate buyers in the territory are low, as opposed to average gains per annum over the past five years.
Based on its average 5-year and quarterly capital gains INVERMAY PARK, 3350 saw average growth in the long term.
It is expected, nonetheless, for properties to spend some time on the market prior to a successful sale. homes and units usually stay on listing for an average of 30.9 days.
Besides that, the Australian suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.
Property investors perceived the median home price rise to $481,750.
INVERMAY PARK ranks 597th on the list of best yielding suburbs for rental properties in VIC, posting a 0% return.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $481,750 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 3.6% | N/A |
| Median 12 month | 3.6% | N/A |
| Median 3 years | 23.53% | N/A |
| Median 5 years | 18.95% | N/A |
| 10 years average annual | 3.74% | N/A |
| Weekly media advert. rent | N/A | N/A |
| Time on Market | 30.9 days | N/A |
| Gross Rental Yield Percent | N/A | N/A |
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