Returning expats may increase property prices
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Property investors enjoyed capital gains of 6.73% over the last 12 months in OFFICER, translating to lower returns compared with its peers in VIC.
Figures from the previous quarter show that capital gains for real estate buyers in OFFICER are low, as opposed to average gains per annum over the past five years.
The suburb posted a 38.12% growth in median prices over a three-year period. This is considerably higher than the gains it recorded over the past year.
This number can mean, real estate investors could earn a rental income of $395 based on current median home prices for the suburb.
On average, rents on listings have reached the $395 mark, reflecting a 3.5% increase in returns based on the current median price in OFFICER.
OFFICER, 3809 ranks 326th in VIC in terms of median property value increase and capital gains, based on year-to-date figures.
While it ranks 238th on the list of best yielding suburbs for rental properties in VIC, posting a 3.5% return.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $587,000 | $420,000 |
| GROWTH REPORT | ||
| Median Quarterly | 3.44% | -2.33% |
| Median 12 month | 6.73% | N/A |
| Median 3 years | 38.12% | 13.82% |
| Median 5 years | 80.62% | 15.07% |
| 10 years average annual | 4.35% | 8.51% |
| Weekly media advert. rent | $395 | $350 |
| Time on Market | 39.6 days | 0.0 days |
| Gross Rental Yield Percent | 3.5% | 4.33% |
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