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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 $254,500.
The upward trend in home prices in MAFFRA, 3860 averaged 6.12% per annum over a 3-year period.
Average weekly rents on listings have reached the $260 mark, reflecting a 5.31% increase in returns based on the current median price in MAFFRA.
An average of 8.08 real estate transactions take place per month in MAFFRA which translates to 97 per annum.
97 properties were sold in MAFFRA in 2016, making it the 9th most active market in VIC based on total real estate transactions.
MAFFRA, 3860 places 381st in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $254,500 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 0.59% | N/A |
| Median 12 month | -0.78% | N/A |
| Median 3 years | 18.37% | N/A |
| Median 5 years | 6.04% | N/A |
| 10 years average annual | 3.69% | N/A |
| Weekly media advert. rent | $260 | N/A |
| Time on Market | 129.4 days | N/A |
| Gross Rental Yield Percent | 5.31% | N/A |
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