A 21.67% increase in median property prices in RYE, 3941 has allowed this suburb to join the ranks of best performing suburbs in VIC, settling at number 86th.
A steady increase in median property prices over a five-year period in the suburb translates to a 50.87% capital gain.
It 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 $694,000
The augmented property values in the suburb are trailing above the territorial average of 9.93% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $380.
Home owners selling their properties and realtors in RYE usually have to wait an average of 57.2 days days before their assets are lifted off the market.
The VIC suburb ranks 378th on the list of best yielding suburbs for rental properties in VIC, posting a 2.85% return.
It also places places 157th in Australia based on median property value growth during the quarter.
Property investors enjoyed capital gains of 11.11% over the last 12 months in RYE, translating to lower returns compared with its peers in VIC.
A survey of average capital gains or median home price increase in suburbs across the country shows that RYE, 3941 obtained a 6.27% growth over a ten-year period. It ranks 485th on our list of suburbs that property investors should look into.
RYE, 3941 has a capital gain of 11.11% for the past year, which is higher than average compared to its 36.99% growth within a five-year period.
With the median home price in RYE sitting at $500,000, and the average rent at $300, property owners could potentially earn a 3.12% increase in gross rental yield.
Figures from the previous quarter show that capital gains for real estate buyers in RYE are low, as opposed to average gains per annum over the past five years.
RYE, 3941 in VIC belongs to the local government area of Mornington Peninsula.