MELVILLE, 6156 delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.
Investors saw the median home price rise to $732,000.
Profits due to an downward trend in home prices in the suburb averaged -3.21% per annum over a 3-year period.
MELVILLE now ranks at the 326th place on a list of fastest growing suburbs in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in MELVILLE are low, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $450 based on current median home prices.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In MELVILLE, homes and units usually stay on listing for an average of 90.4 days.
In 2016, 97 properties were sold in MELVILLE during the past year, making it the 6th most active market in WA based on total real estate transactions.
MELVILLE ranks 70th in WA when it comes to estimated capital gains experienced by property investors over the past three years.
MELVILLE, 6156 has a capital gain of -17.36% for the past year, which is lower than average compared to its 1.93% growth within a five-year period.
With the median home price in MELVILLE sitting at $423,000, and the average rent at $417.5, property owners could potentially earn a 5.13% increase in gross rental yield.
Property investors have seen a -11.26% drop in MELVILLE based on a decrease in median home prices for the past three months.
A survey of average capital gains or median home price increase in suburbs across the country shows that MELVILLE, 6156 obtained a 1.06% growth over a ten-year period. It ranks 1470th on our list of suburbs that property investors should look into.