MURTOA, 3390 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 MURTOA, 3390 values up and netting property investors a capital gain of 9.22% for the past year.
Investors saw the median home price rise to $112,500.
Profits due to an upward trend in home prices in the suburb averaged 1.88% per annum over a 3-year period.
Because of this real estate investors could earn a rental income of $180 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 MURTOA, homes and units usually stay on listing for an average of 130.8 days.
In 2016, 20 properties were sold in MURTOA during the past year, making it the 455th most active market in VIC based on total real estate transactions.
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