Gisborne

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 8.82% for the past year.

Investors saw the median home price rise to $925,000.

Profits due to an upward trend in home prices in the suburb averaged 6.97% per annum over a 3-year period.

GISBORNE now ranks at the 365th 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 $550 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 43.9 days.

In 2016, 133 properties were sold in GISBORNE during the past year, making it the 643rd most active market in VIC based on total real estate transactions.