Narre Warren

POSTAL CODE: VIC, 3805

HOUSE

UNIT

Property investors have seen a -1.84% drop in NARRE WARREN based on a decrease in median home prices for the past three months.

Based on its average 5-year and quarterly capital gains NARRE WARREN, 3805 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 $800,000

Profits averaged 3.33% per annum over a 3-year period, due to an upward trend in home prices in NARRE WARREN, 3805.

This means, real estate investors could earn a rental income of $580 based on current median home prices for the suburb.

The gross rental yield in NARRE WARREN, 3805 is 3.77%.

An average of 35.92 real estate transactions take place per month in NARRE WARREN which translates to 431 per annum.

Property investments in NARRE WARREN did not fare well against the rest of the country last year, registering a median home price decrease of 6.59%.

Figures from the previous quarter show that capital gains for real estate buyers in NARRE WARREN are low, as opposed to average gains per annum over the past five years.

Based on its average 5-year and quarterly capital gains NARRE WARREN, 3805 saw average growth in the long term.

This means, real estate investors could earn a rental income of $535 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 NARRE WARREN, homes and units usually stay on listing for an average of 30.3 days.

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 $623,500

Investors saw the median home price rise to $623,500.

NARRE WARREN ranks 193rd on the list of best yielding suburbs for rental properties in VIC, posting a 4.46% return.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$800,000	$623,500
Growth Report
Median Quarterly	-1.84%	0.48%
Median 12 month	3.83%	6.59%
Median 3 years	10.96%	19.85%
Median 5 years	21.95%	27.24%
10 years average annual	5.77%	6.57%
Weekly media advert. rent	$580	$535
Time on Market	30.8 days	30.3 days
Gross Rental Yield Percent	3.77%	4.46%

Demographics (Median Values)*

Total Population 56933

Weekly Household Income 1624

Household Size 3.20

Average Age 34

Monthly Loan Repayment 1700

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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