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Silverleaves
AREA REPORTS

Silverleaves

Silverleaves - SUBURB PROFILE REPORT
POSTAL CODE: VIC, 3922

house

SILVERLEAVES, 3922 delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.

Average median house prices in VIC have risen as a whole, pulling SILVERLEAVES, 3922 values up and netting property investors a capital gain of 23.63% for the past year.

Investors saw the median home price rise to $989,000.

Profits due to an upward trend in home prices in the suburb averaged 18.79% per annum over a 3-year period.

SILVERLEAVES now ranks at the 457th 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 low, as opposed to average gains per annum over the past five years.

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 48.7 days.

In 2016, 15 properties were sold in SILVERLEAVES during the past year, making it the 607th 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.

Data report can be found below

Silverleaves
KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $989,000 N/A
GROWTH REPORT
Median Quarterly 3.02% N/A
Median 12 month 23.63% N/A
Median 3 years 56.36% N/A
Median 5 years 121.83% N/A
10 years average annual 7.33% N/A
Weekly media advert. rent N/A N/A
Time on Market 48.7 days N/A
Gross Rental Yield Percent N/A N/A
demographics (median values)*
Total Population
7738
Weekly Household Income
903
Household Size
2.20
Age
51
Monthly Loan Repayment
1400
* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.
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