Neerim South

NEERIM SOUTH, 3831 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Average median house prices in VIC have risen as a whole, pulling NEERIM SOUTH, 3831 values up and netting property investors a capital gain of 1.55% for the past year.

Investors saw the median home price rise to $655,000.

Profits due to an upward trend in home prices in the suburb averaged 9.06% per annum over a 3-year period.

NEERIM SOUTH now ranks at the 606th 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 NEERIM SOUTH are low, as opposed to average gains per annum over the past five years.

Because of this real estate investors could earn a rental income of N/A based on current median home prices.

Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In NEERIM SOUTH, homes and units usually stay on listing for an average of 76.8 days.

In 2016, 26 properties were sold in NEERIM SOUTH during the past year, making it the 386th most active market in VIC based on total real estate transactions.