Surf Beach

POSTAL CODE: VIC, 3922

HOUSE

SURF BEACH, 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 $673,250.

Profits due to an downward trend in home prices in the suburb averaged -8.86% per annum over a 3-year period.

SURF BEACH now ranks at the 628th 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 SURF BEACH are low, as opposed to average gains per annum over the past five years.

Because of this real estate investors could earn a rental income of $515 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 SURF BEACH, homes and units usually stay on listing for an average of 117.3 days.

In 2016, 16 properties were sold in SURF BEACH during the past year, making it the 555th most active market in VIC based on total real estate transactions.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$673,250	N/A
Growth Report
Median Quarterly	-5.18%	N/A
Median 12 month	-5.84%	N/A
Median 3 years	-26.58%	N/A
Median 5 years	10.82%	N/A
10 years average annual	7.3%	N/A
Weekly media advert. rent	$515	N/A
Time on Market	117.3 days	N/A
Gross Rental Yield Percent	3.98%	N/A

Demographics (Median Values)*

Total Population 7738

Weekly Household Income 903

Household Size 2.20

Average 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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