‘Great buying opportunities’ for careful investors looking at new-builds
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CRANBOURNE, 3977 ranks 295th on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 19.96% for property investors.
Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb 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 $550,000.
The upward trend in home prices in CRANBOURNE, 3977 averaged 20.59% per annum over a 3-year period.
Average weekly rents on listings have reached the $350 mark, reflecting a 3.31% increase in returns based on the current median price in CRANBOURNE.
An average of 29.92 real estate transactions take place per month in CRANBOURNE which translates to 359 per annum.
359 properties were sold in CRANBOURNE in 2016, making it the 171st most active market in VIC based on total real estate transactions.
CRANBOURNE, 3977 places 191st in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $550,000 | $385,250 |
| GROWTH REPORT | ||
| Median Quarterly | 1.85% | 2.73% |
| Median 12 month | 19.96% | 18.54% |
| Median 3 years | 61.76% | 40.09% |
| Median 5 years | 77.42% | 54.1% |
| 10 years average annual | 7.86% | 6.77% |
| Weekly media advert. rent | $350 | $300 |
| Time on Market | 31.4 days | 24.4 days |
| Gross Rental Yield Percent | 3.31% | 4.05% |
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