Office investment in Melbourne is boosting resi investment
Melbourne has been listed as an international investment hotspot and its increase in office investment is helping push up residential invest...
A steady increase in median property prices over a five-year period in the suburb translates to a 24.79% capital gain.
It 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 $299,500
The augmented property values in the suburb are trailing behind the territorial average of 8.31% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $275.
Home owners selling their properties and realtors in KORUMBURRA usually have to wait an average of 77.4 days days before their assets are lifted off the market.
The VIC suburb ranks 104th on the list of best yielding suburbs for rental properties in VIC, posting a 4.77% return.
It also places places 532nd in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $299,500 | $230,000 |
| GROWTH REPORT | ||
| Median Quarterly | -1.8% | N/A |
| Median 12 month | 6.96% | 1.32% |
| Median 3 years | 24.79% | 11.25% |
| Median 5 years | 25.31% | N/A |
| 10 years average annual | 4.3% | 1.35% |
| Weekly media advert. rent | $275 | $250 |
| Time on Market | 77.4 days | 155.5 days |
| Gross Rental Yield Percent | 4.77% | 5.65% |
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