House prices see largest price drop for last 7 years
A property institute has claimed house prices have seen their largest drop since December 2011, giving buyers the opportunity to add to thei...
EILDON, 3713 ranks 433rd on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 16.9% for property investors.
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 $245,500.
The upward trend in home prices in EILDON, 3713 averaged 7.58% per annum over a 3-year period.
Average weekly rents on listings have reached the $250 mark, reflecting a 5.3% increase in returns based on the current median price in EILDON.
An average of 3.33 real estate transactions take place per month in EILDON which translates to 40 per annum.
40 properties were sold in EILDON in 2016, making it the 243rd most active market in VIC based on total real estate transactions.
EILDON, 3713 places 171st in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $245,500 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 3.26% | N/A |
| Median 12 month | 16.9% | N/A |
| Median 3 years | 22.75% | N/A |
| Median 5 years | 11.59% | N/A |
| 10 years average annual | 5.68% | N/A |
| Weekly media advert. rent | $250 | N/A |
| Time on Market | 80.2 days | N/A |
| Gross Rental Yield Percent | 5.3% | N/A |
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