PM fears impact of migration slide on residential sector
Prime Minister Scott Morrison has acknowledged the threat that a COVID-induced decline in migration could pose to residential property marke...
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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 $468,500.
The upward trend in home prices in WALLAN, 3756 averaged 8.31% per annum over a 3-year period.
Average weekly rents on listings have reached the $370 mark, reflecting a 4.11% increase in returns based on the current median price in WALLAN.
An average of 15.75 real estate transactions take place per month in WALLAN which translates to 189 per annum.
189 properties were sold in WALLAN in 2016, making it the 481st most active market in VIC based on total real estate transactions.
WALLAN, 3756 places 551st in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $468,500 | $359,000 |
| GROWTH REPORT | ||
| Median Quarterly | -1.06% | 1.13% |
| Median 12 month | -4.39% | 4.82% |
| Median 3 years | 24.93% | 29.6% |
| Median 5 years | 37.79% | 38.08% |
| 10 years average annual | 5.74% | 5.04% |
| Weekly media advert. rent | $370 | $325 |
| Time on Market | 77.6 days | 64.5 days |
| Gross Rental Yield Percent | 4.11% | 4.71% |
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