Perth’s luxury property growth ranked highest in Australia
Smaller cities have outranked the major capitals for prime luxury residential real estate price growth, a new report has shown. ...
Property investors have seen a 2.38% gain in DOREEN based on an increase in median home prices for the past three months.
Based on its average 5-year and quarterly capital gains DOREEN, 3754 saw average growth in the long term.
The VIC 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 $625,000
Profits averaged 4.55% per annum over a 3-year period, due to an upward trend in home prices in DOREEN, 3754.
This means, real estate investors could earn a rental income of $400 based on current median home prices for the suburb.
The gross rental yield in DOREEN, 3754 is 3.33%.
An average of 29.92 real estate transactions take place per month in DOREEN which translates to 359 per annum.
To its residents, Doreen is a suburb with a character, shaped by its diverse community, amicable atmosphere and rapid pace of development.
Doreen continues to exceed the expectations of long-time residents and new homeowners, who have been surprised by the availability of a range of shopping centres, schools, parks and recreational facilities, and restaurants. More upgrades are in store for the suburb, with new developments in the pipeline. Rural properties hitting the market are also eagerly snagged by savvy developers, who can turn Doreen’s real estate into the next most sought-after postcode.
Surging demand
Demand for houses for sale is on an upswing in Doreen as first-time home buyers and professionals move into the suburb for its affordability and accessibility. The median home price in Doreen has climbed consistently in recent months but remains considerably reasonable, proving favourable for buyers who have been priced out by Melbourne’s inner suburbs. Realtors and buyers anticipate that the completion of the Mernda rail extension project could speed up the suburb’s expansion and prompt the construction of new retail hubs and facilities around the area.
Improving infrastructure in surrounding suburbs is also driving growth in Doreen. New employment opportunities have opened up as a result.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $625,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 2.38% | N/A |
| Median 12 month | 6.27% | N/A |
| Median 3 years | 13.64% | N/A |
| Median 5 years | 45.35% | N/A |
| 10 years average annual | 4.17% | N/A |
| Weekly media advert. rent | $400 | N/A |
| Time on Market | 46.7 days | N/A |
| Gross Rental Yield Percent | 3.33% | N/A |
Smaller cities have outranked the major capitals for prime luxury residential real estate price growth, a new report has shown. ...
The banks are customer hungry, meaning they’re willing to offer increased discounts to new customers and apply these discounts to existing...
Despite the pandemic, house and unit prices rose across Australia last year. But will this resilience persist in 2021? ...
Prices across the high-end property market are tipped to see exponential growth as demand for space and comfort increases. ...
Nearly one in 10 Victorian properties is at a very high risk of a climate hazard, new research has revealed, pinpointing the regions that ...
With JobSeeker coming to an end in March, how will the Australian housing market fare? ...
Get notifications in real-time for staying up to date with content that matters to you.
