Murtoa

MURTOA, 3390 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Investors saw the median home price rise to $250,000.

Profits due to an upward trend in home prices in the suburb averaged 2.13% per annum over a 3-year period.

MURTOA now ranks at the 396th 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 MURTOA 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 N/A 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 76.9 days.

In 2016, 17 properties were sold in MURTOA during the past year, making it the 534th most active market in VIC based on total real estate transactions.