Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb also 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 $493,000.
The upward trend in home prices in SAN REMO, 3925 averaged 8.27% per annum over a 3-year period.
Average weekly rents on listings have reached the $330 mark, reflecting a 3.48% increase in returns based on the current median price in SAN REMO.
An average of 2.83 real estate transactions take place per month in SAN REMO which translates to 34 per annum.
34 properties were sold in SAN REMO in 2016, making it the 286th most active market in VIC based on total real estate transactions.
SAN REMO, 3925 places 69th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||8.92%||-9.59%|
|Median 3 years||24.81%||N/A|
|Median 5 years||23.25%||N/A|
|10 years average annual||3.97%||4.21%|
|Weekly media advert. rent||$330||N/A|
|Time on Market||106.4 days||0.0 days|
|Gross Rental Yield Percent||3.48%||N/A|