Hastings

POSTAL CODE: VIC, 3915

HOUSE

UNIT

Based on its average 5-year and quarterly capital gains HASTINGS, 3915 saw average growth in the long term.

A survey of average capital gains or median home price increase in suburbs across the country shows that HASTINGS, 3915 obtained a 7.31% growth over a ten-year period. It ranks 1807th on our list of suburbs that property investors should look into.

HASTINGS, 3915 in VIC belongs to the local government area of Mornington Peninsula.

HASTINGS, 3915 has a capital gain of 7.25% for the past year, which is higher than average compared to its 27.59% growth within a five-year period.

With the median home price in HASTINGS sitting at $740,000, and the average rent at $565, property owners could potentially earn a 3.97% increase in gross rental yield.

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

A steady increase in median property prices over a five-year period in HASTINGS, 3915 translates to a 10.65% capital gain.

Property investors enjoyed capital gains of 8.64% over the last 12 months in HASTINGS, translating to higher returns compared with its peers in VIC.

HASTINGS, 3915 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 $597,500.

Profits due to an upward trend in home prices in HASTINGS, 3915 averaged 3.55% per annum over a 3-year period.

Home owners selling their properties and realtors in HASTINGS usually have to wait an average of 37.2 days days before their assets are lifted off the market.

Average weekly rents on listings have reached the $500 mark, reflecting a 4.35% increase in returns based on the current median price in HASTINGS.

HASTINGS, 3915 places 28th in Australia based on median property value growth during the quarter.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$740,000	$597,500
Growth Report
Median Quarterly	2.07%	6.32%
Median 12 month	7.25%	8.64%
Median 3 years	4.23%	10.65%
Median 5 years	27.59%	24.48%
10 years average annual	7.31%	7.69%
Weekly media advert. rent	$565	$500
Time on Market	44.9 days	37.2 days
Gross Rental Yield Percent	3.97%	4.35%

Demographics (Median Values)*

Total Population 9960

Weekly Household Income 973

Household Size 2.30

Average Age 41

Monthly Loan Repayment 1600

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

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