Property value increases in Sunshine have tracked higher than the VIC average of 8.23% over the last 12 months.
Taking the average capital gain, or increase in median house value, Sunshine,3020 has racked up an average of 23.23% over the period. This ranks it number 443th in the whole country for real estate investors looking at median house price increases.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.99% offered to property buyers. Sellers in Sunshine itself are offering an average vendor discount of -1.57% to real estate investors.
A $330 per week rent on the median house gives suburb investors a gross yield of circa 2.81%, without taking into account capital value appreciation, which has been averaging out at 10.74%.
Investment property in Sunshine has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 1.60%
Taking the average capital gain, or increase in median house value, Sunshine,3020 has racked up an average of 1.60% over the period. This ranks it number 702th in the whole country for real estate investors looking at median house price increases.
Property buyers and investors in Sunshine 3020 should be seeing an average reduction in asking price of around -4.85% . This means that Sunshine is holding prices well when compared to other suburbs in VIC.
In the last year 47 properties changed hands in Sunshine, which puts it as the 193th most active market in VIC when comparing the number of sales per suburb.
Using the current median advertised rental of $267.5 and the average annual increase in value of a median property of 5.83%, investors should hope to achieve an overall return of 3.65%