Why commercial is the new residential
Gone are the golden days where you could purchase residential properties with yields of 6, 7 or 8 per cent or build a self-sustaining prope...
Based on its average 5-year and quarterly capital gains BITTERN, 3918 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 BITTERN, 3918 obtained a 6.66% growth over a ten-year period. It ranks 656th on our list of suburbs that property investors should look into.
BITTERN, 3918 in VIC belongs to the local government area of Mornington Peninsula (S).
BITTERN, 3918 has a capital gain of 10.64% for the past year, which is lower than average compared to its 69.93% growth within a five-year period.
With the median home price in BITTERN sitting at $650,000, and the average rent at $450, property owners could potentially earn a 3.6% increase in gross rental yield.
Figures from the previous quarter show that capital gains for real estate buyers in BITTERN are low, as opposed to average gains per annum over the past five years.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $650,000 | $497,500 |
| GROWTH REPORT | ||
| Median Quarterly | 4.84% | -1.97% |
| Median 12 month | 10.64% | 16.24% |
| Median 3 years | 22.93% | 19.88% |
| Median 5 years | 69.93% | 42.24% |
| 10 years average annual | 6.66% | 8.08% |
| Weekly media advert. rent | $450 | $440 |
| Time on Market | 51.1 days | 104.2 days |
| Gross Rental Yield Percent | 3.6% | 4.6% |
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