$170m development to benefit Melbourne’s eastern suburbs
MaxCap Group has closed a $170 million senior debt deal for a development finance that will be used to deliver an exciting project in Melbou...
Based on its average 5-year and quarterly capital gains, the suburb saw average decrease 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 $578,750.
The downward trend in home prices in EAST VICTORIA PARK, 6101 averaged -2.95% per annum over a 3-year period.
Average weekly rents on listings have reached the $410 mark, reflecting a 3.68% increase in returns based on the current median price in EAST VICTORIA PARK.
An average of 11.17 real estate transactions take place per month in EAST VICTORIA PARK which translates to 134 per annum.
134 properties were sold in EAST VICTORIA PARK in 2016, making it the 373rd most active market in WA based on total real estate transactions.
EAST VICTORIA PARK, 6101 places 249th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $578,750 | $404,000 |
| GROWTH REPORT | ||
| Median Quarterly | -1.07% | 1.89% |
| Median 12 month | -4.34% | 0.37% |
| Median 3 years | -8.86% | 1.64% |
| Median 5 years | -10.27% | -13.81% |
| 10 years average annual | 0.47% | 0.66% |
| Weekly media advert. rent | $410 | $350 |
| Time on Market | 76.1 days | 93.7 days |
| Gross Rental Yield Percent | 3.68% | 4.5% |
MaxCap Group has closed a $170 million senior debt deal for a development finance that will be used to deliver an exciting project in Melbou...
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