House Prices To Add Another 20% If Banks Don't Slam The Brakes
Chatter about the possible introduction of macro prudential controls to slow house price growth is increasing, while rep...
Homeowners and real estate investors betting on MCCRAE, 3938 can rest assured about this VIC suburb's performance. The suburb saw median home prices rise by 18.13%.
A steady increase in median property prices over a five-year period in the suburb translates to a 19.62% capital gain.
Property investors in MCCRAE enjoyed capital gains of 18.13% 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 $945,000.
Profits due to an upward trend in home prices there averaged 6.54% per annum over a 3-year period.
Home owners selling their properties and realtors in MCCRAE usually have to wait an average of 92.3 days days before their assets are lifted off the market.
Average weekly rents on listings have reached the $400 mark, reflecting a 2.2% increase in returns based on the current median price in MCCRAE.
MCCRAE, 3938 places 54th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||18.13%||-19.57%|
|Median 3 years||19.62%||-14.7%|
|Median 5 years||63.99%||N/A|
|10 years average annual||5.86%||-1.24%|
|Weekly media advert. rent||$400||$450|
|Time on Market||92.3 days||0.0 days|
|Gross Rental Yield Percent||2.2%||4.16%|