PM fears impact of migration slide on residential sector
Prime Minister Scott Morrison has acknowledged the threat that a COVID-induced decline in migration could pose to residential property marke...
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Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $1,157,500.
The upward trend in home prices in MOUNT ELIZA, 3930 averaged 5.25% per annum over a 3-year period.
Average weekly rents on listings have reached the $767.5 mark, reflecting a 3.45% increase in returns based on the current median price in MOUNT ELIZA.
An average of 26.08 real estate transactions take place per month in MOUNT ELIZA which translates to 313 per annum.
313 properties were sold in MOUNT ELIZA in 2016, making it the 321st most active market in VIC based on total real estate transactions.
MOUNT ELIZA, 3930 places 443rd in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $1,157,500 | $610,000 |
| GROWTH REPORT | ||
| Median Quarterly | 0.65% | 0% |
| Median 12 month | -3.54% | 14.02% |
| Median 3 years | 15.75% | 6.09% |
| Median 5 years | 49.35% | 26.42% |
| 10 years average annual | 6.36% | 4.47% |
| Weekly media advert. rent | $767.5 | $410 |
| Time on Market | 72.7 days | 45.8 days |
| Gross Rental Yield Percent | 3.45% | 3.5% |
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