A 24.47% increase in median property prices in WOODEND, 3442 has allowed this suburb to join the ranks of best performing suburbs in VIC, settling at number 60th.
A steady increase in median property prices over a five-year period in the suburb translates to a 30% capital gain.
It also 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 $585,000
The augmented property values in the suburb are trailing above the territorial average of 11.1% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $400.
Home owners selling their properties and realtors in WOODEND usually have to wait an average of 49.1 days days before their assets are lifted off the market.
The VIC suburb ranks 251st on the list of best yielding suburbs for rental properties in VIC, posting a 3.56% return.
It also places places 34th in Australia based on median property value growth during the quarter.
Property investors enjoyed capital gains of 8.34% over the last 12 months in WOODEND, translating to lower returns compared with its peers in VIC.
A survey of average capital gains or median home price increase in suburbs across the country shows that WOODEND, 3442 obtained a 18.29% growth over a ten-year period. It ranks 1226th on our list of suburbs that property investors should look into.
With the median home price in WOODEND sitting at $471,275, and the average rent at $360, property owners could potentially earn a 3.97% increase in gross rental yield.
WOODEND, 3442 in VIC belongs to the local government area of Macedon Ranges.