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 $400,000.
The upward trend in home prices in WALLAN, 3756 averaged 5.88% per annum over a 3-year period.
Average weekly rents on listings have reached the $345 mark, reflecting a 4.49% increase in returns based on the current median price in WALLAN.
An average of 18.83 real estate transactions take place per month in WALLAN which translates to 226 per annum.
226 properties were sold in WALLAN in 2016, making it the 420th most active market in VIC based on total real estate transactions.
WALLAN, 3756 places 78th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||10.8%||4.5%|
|Median 3 years||17.65%||14.97%|
|Median 5 years||25%||9.43%|
|10 years average annual||4.73%||3.19%|
|Weekly media advert. rent||$345||$300|
|Time on Market||64.1 days||88.4 days|
|Gross Rental Yield Percent||4.49%||5.38%|