Bittern

POSTAL CODE: VIC, 3918

HOUSE

UNIT

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 9.64% growth over a ten-year period. It ranks 146th on our list of suburbs that property investors should look into.

BITTERN, 3918 in VIC belongs to the local government area of Mornington Peninsula.

BITTERN, 3918 has a capital gain of 14.56% for the past year, which is higher than average compared to its 30.22% growth within a five-year period.

With the median home price in BITTERN sitting at $905,000, and the average rent at $660, property owners could potentially earn a 3.79% 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.

A steady increase in median property prices over a five-year period in BITTERN, 3918 translates to a 8.54% capital gain.

BITTERN, 3918 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 $667,500.

Profits due to an upward trend in home prices in BITTERN, 3918 averaged 2.85% per annum over a 3-year period.

Home owners selling their properties and realtors in BITTERN usually have to wait an average of 39.6 days days before their assets are lifted off the market.

Average weekly rents on listings have reached the $550 mark, reflecting a 4.28% increase in returns based on the current median price in BITTERN.

BITTERN, 3918 places 154th 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	$905,000	$667,500
Growth Report
Median Quarterly	0%	2.3%
Median 12 month	14.56%	0%
Median 3 years	8.06%	8.54%
Median 5 years	30.22%	30.88%
10 years average annual	9.64%	8.44%
Weekly media advert. rent	$660	$550
Time on Market	57 days	39.6 days
Gross Rental Yield Percent	3.79%	4.28%

Demographics (Median Values)*

Total Population 3705

Weekly Household Income 1449

Household Size 2.70

Average Age 41

Monthly Loan Repayment 1700

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

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