WALLAN, 3756 ranks 243rd on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 22.67% 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 $460,000.
The upward trend in home prices in WALLAN, 3756 averaged 11.76% per annum over a 3-year period.
Average weekly rents on listings have reached the $350 mark, reflecting a 3.96% increase in returns based on the current median price in WALLAN.
An average of 20.25 real estate transactions take place per month in WALLAN which translates to 243 per annum.
243 properties were sold in WALLAN in 2016, making it the 390th most active market in VIC based on total real estate transactions.
WALLAN, 3756 places 76th in Australia based on median property value growth during the quarter.
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 $320,000.
Average median unit prices in VIC have risen as a whole, pulling WALLAN, 3756 values up and netting property investors a capital gain of 15.52% for the past year.
Investors saw the median home price rise to $320,000.
The upward trend in home prices in WALLAN, 3756 averaged 7.69% per annum over a 3-year period.
WALLAN now ranks at the 121st 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 WALLAN are low, as opposed to average gains per annum over the past five years.
Real estate investors could earn a rental income of $310 based on current median home prices for the suburb.
It is expected for properties to spend some time on the market prior to a successful sale. In WALLAN, homes and units usually stay on listing for an average of 46.2 days.
23 properties were sold in WALLAN in 2016, making it the 226th most active market in VIC based on total real estate transactions.
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