Homeowners and real estate investors betting on DROMANA, 3936 can rest assured about this VIC suburb's performance. The suburb saw median home prices rise by 16.94%.
A steady increase in median property prices over a five-year period in the suburb translates to a 50.41% capital gain.
Property investors in DROMANA enjoyed capital gains of 16.94% over the last 12 months translating to lower returns compared with its peers in the territory.
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 $725,000.
Profits due to an upward trend in home prices there averaged 16.8% per annum over a 3-year period.
Home owners selling their properties and realtors in DROMANA usually have to wait an average of 62.1 days days before their assets are lifted off the market.
Average weekly rents on listings have reached the $395 mark, reflecting a 2.83% increase in returns based on the current median price in DROMANA.
DROMANA, 3936 places 307th in Australia based on median property value growth during the quarter.
Figures from the previous quarter show that capital gains for real estate buyers in DROMANA are high, as opposed to average gains per annum over the past five years.
Real estate investors could earn a rental income of $345 based on current median home prices for the suburb.
Average weekly rents on listings have reached the $345 mark, reflecting a 3.1% increase in returns based on the current median price in DROMANA.
DROMANA, 3936 ranks 300th in VIC in terms of median property value increase and capital gains, based on year-to-date figures.
DROMANA ranks 322nd on the list of best yielding suburbs for rental properties in VIC, posting a 3.1% return.
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