Competition from FHBs not expected until late 2019
First-home buyers are expected to return to the market by the end of 2019, meaning property investors could have less-than-expected competit...
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 $284,500.
The upward trend in home prices in MIRBOO NORTH, 3871 averaged 7.9% per annum over a 3-year period.
Average weekly rents on listings have reached the $270 mark, reflecting a 4.93% increase in returns based on the current median price in MIRBOO NORTH.
An average of 2.33 real estate transactions take place per month in MIRBOO NORTH which translates to 28 per annum.
28 properties were sold in MIRBOO NORTH in 2016, making it the 341st most active market in VIC based on total real estate transactions.
MIRBOO NORTH, 3871 places 89th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $284,500 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 5.37% | N/A |
| Median 12 month | 7.77% | N/A |
| Median 3 years | 23.7% | N/A |
| Median 5 years | 7.97% | N/A |
| 10 years average annual | 2.8% | N/A |
| Weekly media advert. rent | $270 | N/A |
| Time on Market | 84.6 days | N/A |
| Gross Rental Yield Percent | 4.93% | N/A |
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