Property investments in SKYE fare well against the rest of the country last year, registering a median home price increase of 16.35%.
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 $410 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 26.9 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 $605,000.
SKYE ranks 251st on the list of best yielding suburbs for rental properties in VIC, posting a 3.52% return.
SKYE, 3977 ranks 205th on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 17.33% for property investors last year.
Profits due to an upward trend in home prices in SKYE, 3977 averaged 14.6% per annum over a 3-year period.
Average weekly rents on listings have reached the $350 mark, reflecting a 4.14% increase in returns based on the current median price in SKYE.
An average of 2 real estate transactions take place per month in SKYE which translates to 24 per annum.
24 properties were sold in SKYE during the past year, making it the 213th most active market in VIC based on total real estate transactions.
SKYE, 3977 places 133rd in Australia based on median property value growth during the quarter.
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