GISBORNE, 3437 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 GISBORNE, 3437 values up and netting property investors a capital gain of 6.4% for the past year.
Investors saw the median home price rise to $615,000.
Profits due to an upward trend in home prices in the suburb averaged 7.91% per annum over a 3-year period.
GISBORNE now ranks at the 649th 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 $440 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 89.1 days.
In 2016, 121 properties were sold in GISBORNE during the past year, making it the 632nd most active market in VIC based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $615,000 | $433,000 |
| GROWTH REPORT | ||
| Median Quarterly | -5.02% | -2.64% |
| Median 12 month | 6.4% | -2.42% |
| Median 3 years | 23.74% | 20.28% |
| Median 5 years | 48.19% | 28.3% |
| 10 years average annual | 7.24% | 4.79% |
| Weekly media advert. rent | $440 | $340 |
| Time on Market | 89.1 days | 61.2 days |
| Gross Rental Yield Percent | 3.72% | 4.08% |
There is a threshold for the land value...
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