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 $277,000.
The upward trend in home prices in MIRBOO NORTH, 3871 averaged 1.51% per annum over a 3-year period.
Average weekly rents on listings have reached the $265 mark, reflecting a 4.97% increase in returns based on the current median price in MIRBOO NORTH.
An average of 1.92 real estate transactions take place per month in MIRBOO NORTH which translates to 23 per annum.
23 properties were sold in MIRBOO NORTH in 2016, making it the 413th most active market in VIC based on total real estate transactions.
MIRBOO NORTH, 3871 places 274th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||-0.63%||N/A|
|Median 3 years||4.53%||N/A|
|Median 5 years||8.63%||N/A|
|10 years average annual||4.47%||N/A|
|Weekly media advert. rent||$265||N/A|
|Time on Market||109.3 days||N/A|
|Gross Rental Yield Percent||4.97%||N/A|