Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb 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 $350,000.
The downward trend in home prices in KENNINGTON, 3550 averaged -2.22% per annum over a 3-year period.
Average weekly rents on listings have reached the $300 mark, reflecting a 4.46% increase in returns based on the current median price in KENNINGTON.
An average of 8.92 real estate transactions take place per month in KENNINGTON which translates to 107 per annum.
107 properties were sold in KENNINGTON in 2016, making it the 706th most active market in VIC based on total real estate transactions.
KENNINGTON, 3550 places 529th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $350,000 | $267,000 |
| GROWTH REPORT | ||
| Median Quarterly | 0.32% | 6.8% |
| Median 12 month | -2.1% | 18.67% |
| Median 3 years | -6.67% | 11.72% |
| Median 5 years | 12.9% | 18.67% |
| 10 years average annual | 3.38% | 4.83% |
| Weekly media advert. rent | $300 | $250 |
| Time on Market | 81.7 days | 84.8 days |
| Gross Rental Yield Percent | 4.46% | 4.87% |
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