Property Market Update: Melbourne, September 2021
Melbourne’s property market kept the ball rolling in September as the city’s dwelling values rose once more during t...
BENALLA, 3672 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 BENALLA, 3672 values up and netting property investors a capital gain of 20.21% for the past year.
Investors saw the median home price rise to $351,000.
Profits due to an upward trend in home prices in the suburb averaged 12.19% per annum over a 3-year period.
BENALLA now ranks at the 247th 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 BENALLA 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 $360 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 BENALLA, homes and units usually stay on listing for an average of 60.7 days.
In 2016, 273 properties were sold in BENALLA during the past year, making it the 405th most active market in VIC based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||20.21%||18.88%|
|Median 3 years||36.58%||22.89%|
|Median 5 years||52.61%||35.64%|
|10 years average annual||5%||4.72%|
|Weekly media advert. rent||$360||$270|
|Time on Market||60.7 days||37.2 days|
|Gross Rental Yield Percent||5.33%||5.51%|