Skye

POSTAL CODE: VIC, 3977

HOUSE

UNIT

Property investments in SKYE did not fare well against the rest of the country last year, registering a median home price decrease of 6.48%.

Figures from the previous quarter show that capital gains for real estate buyers in the territory are low, as opposed to average gains per annum over the past five years.

Based on its average 5-year and quarterly capital gains SKYE, 3977 saw average growth in the long term.

Real estate investors could earn a rental income of $659.5 based on current median home prices for the suburb.

It is expected, nonetheless, for properties to spend some time on the market prior to a successful sale. homes and units usually stay on listing for an average of 15 days.

Besides that, the Australian suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Property investors perceived the median home price rise to $837,500.

SKYE ranks 145th on the list of best yielding suburbs for rental properties in VIC, posting a 4.09% return.

Based on its average 5-year and quarterly capital gains SKYE, 3977 saw average growth in the long term.

Besides that, the Australian suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Profits due to an upward trend in home prices in SKYE, 3977 averaged 1.17% per annum over a 3-year period.

Average weekly rents on listings have reached the $550 mark, reflecting a 4.85% increase in returns based on the current median price in SKYE.

An average of 2.42 real estate transactions take place per month in SKYE which translates to 29 per annum.

29 properties were sold in SKYE during the past year, making it the 200th most active market in VIC based on total real estate transactions.

SKYE, 3977 places th in Australia based on median property value growth during the quarter.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$837,500	$590,000
Growth Report
Median Quarterly	3.4%	0%
Median 12 month	6.48%	-1.5%
Median 3 years	8.77%	3.51%
Median 5 years	36.73%	26.88%
10 years average annual	7.09%	6.47%
Weekly media advert. rent	$660	$550
Time on Market	15 days	30.6 days
Gross Rental Yield Percent	4.09%	4.85%

Demographics (Median Values)*

Total Population 93326

Weekly Household Income 1560

Household Size 3.00

Average Age 32

Monthly Loan Repayment 1768

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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