Silverleaves

POSTAL CODE: VIC, 3922
HOUSE

SILVERLEAVES, 3922 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 $727,500.

Profits due to an upward trend in home prices in the suburb averaged 0% per annum over a 3-year period.

SILVERLEAVES now ranks at the th place on a list of fastest growing suburbs in the territory.

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

Because of this real estate investors could earn a rental income of N/A based on current median home prices.

Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In SILVERLEAVES, homes and units usually stay on listing for an average of 84.6 days.

In 2016, 12 properties were sold in SILVERLEAVES during the past year, making it the 656th most active market in VIC based on total real estate transactions.

Surburb overview

As its name suggests, Silverleaves is a leaf-shaped strip of land protruding from Australia’s southern peninsula. Straddling the upper portion of Phillip Island, Silverleaves is a beachside neighbourhood beside Cowes, Victoria, hedged against the currents of Western Port Bay by its natural breakwater.

Tourism

Best known as a resort town, accommodations abound in Silverleaves, in the form of hotels and inns, bed and breakfasts, and beach houses. Vacation homes for tourists and property investors are also in abundance, with most rest houses owned by absentee owners living in or near the Melbourne central business district.

Silverleaves is generally a low-key destination for travellers, but it tends to get busy in the summer, especially in late February during the Phillip Island Grand Prix Circuit. Monied investors, however, can opt to snap up multi-unit, detached properties for sale in Silverleaves to skip the inconvenience.

Real estate climate

The current median home price in the suburb at the moment is $440,000, while larger, more luxurious homes are priced at no less than $1 million. New developments could soon rise in Silverleaves when real estate developers begin scooping up large stretches of land for sale.

You’re out of free articles for this month
Loading form...