What post-election certainty can offer the property market
Now that the election is over, the property market is set to experience some well-needed certainty. One buyer’s agent shares what investor...
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HEATHCOTE, 3523 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 HEATHCOTE, 3523 values up and netting property investors a capital gain of 12.12% for the past year.
Investors saw the median home price rise to $310,000.
Profits due to an upward trend in home prices in the suburb averaged 7.84% per annum over a 3-year period.
HEATHCOTE now ranks at the 92nd 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 HEATHCOTE 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 $312.5 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 HEATHCOTE, homes and units usually stay on listing for an average of 115.5 days.
In 2016, 41 properties were sold in HEATHCOTE during the past year, making it the 227th most active market in VIC based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $310,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 4.2% | N/A |
| Median 12 month | 12.12% | N/A |
| Median 3 years | 23.51% | N/A |
| Median 5 years | 39.33% | N/A |
| 10 years average annual | 7.62% | N/A |
| Weekly media advert. rent | $312.5 | N/A |
| Time on Market | 115.5 days | N/A |
| Gross Rental Yield Percent | 5.24% | N/A |
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