Somerville

POSTAL CODE: VIC, 3912

HOUSE

UNIT

A steady increase in median property prices over a five-year period in the suburb translates to a 4.54% capital gain.

It 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 $852,000

The augmented property values in the suburb are trailing above the territorial average of 2.91% in 2016.

On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $640.

Home owners selling their properties and realtors in SOMERVILLE usually have to wait an average of 50.7 days days before their assets are lifted off the market.

The VIC suburb ranks 197th on the list of best yielding suburbs for rental properties in VIC, posting a 3.91% return.

It also places places 349th in Australia based on median property value growth during the quarter.

A survey of average capital gains or median home price increase in suburbs across the country shows that SOMERVILLE, 3912 obtained a 6.99% growth over a ten-year period. It ranks 502nd on our list of suburbs that property investors should look into.

SOMERVILLE, 3912 has a capital gain of -0.82% for the past year, which is lower than average compared to its 23.85% growth within a five-year period.

With the median home price in SOMERVILLE sitting at $605,000, and the average rent at $565, property owners could potentially earn a 4.86% increase in gross rental yield.

Figures from the previous quarter show that capital gains for real estate buyers in SOMERVILLE are low, as opposed to average gains per annum over the past five years.

SOMERVILLE, 3912 in VIC belongs to the local government area of Mornington Peninsula.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$852,000	$605,000
Growth Report
Median Quarterly	1.78%	-0.98%
Median 12 month	3.9%	-0.82%
Median 3 years	4.54%	0.83%
Median 5 years	29.88%	23.85%
10 years average annual	7.65%	6.99%
Weekly media advert. rent	$640	$565
Time on Market	50.7 days	30.2 days
Gross Rental Yield Percent	3.91%	4.86%

Demographics (Median Values)*

Total Population 15157

Weekly Household Income 1485

Household Size 2.80

Average Age 40

Monthly Loan Repayment 1691

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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