GISBORNE, 3437 delivered a stronger 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 GISBORNE, 3437 values up and netting property investors a capital gain of 5.38% for the past year.
Investors saw the median home price rise to $685,000.
Profits due to an upward trend in home prices in the suburb averaged 12.24% per annum over a 3-year period.
GISBORNE now ranks at the 144th 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 GISBORNE 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 $450 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 GISBORNE, homes and units usually stay on listing for an average of 64.9 days.
In 2016, 126 properties were sold in GISBORNE during the past year, making it the 629th most active market in VIC based on total real estate transactions.
GISBORNE ranks 305th in VIC when it comes to estimated capital gains experienced by property investors over the past three years.
GISBORNE, 3437 has a capital gain of 7.18% for the past year, which is lower than average compared to its 41.29% growth within a five-year period.
With the median home price in GISBORNE sitting at $466,250, and the average rent at $365, property owners could potentially earn a 4.07% increase in gross rental yield.
Property investors have seen a 3.61% gain in GISBORNE based on an increase in median home prices for the past three months.
A survey of average capital gains or median home price increase in suburbs across the country shows that GISBORNE, 3437 obtained a 5.44% growth over a ten-year period. It ranks 616th on our list of suburbs that property investors should look into.