Property investors who have had real estate in Maribyrnong, 3032 should be relatively pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 11.35%
The five-year average increase in median property values for Maribyrnong,3032 has given property investors a potential capital gain of 70.39% across each of those five years.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.26% offered to property buyers. Sellers in Maribyrnong itself are offering an average vendor discount of -5.21% to real estate investors.
Often selling an investment property can take time, and in Maribyrnong the average time real estate has been on the market is 57.26 days.
With the median price for a house in Maribyrnong being $988250 and the advertised rent reaching $460 the gross rental yield for property investors calculates out to be 2.42%
Property value increases in Maribyrnong have tracked just lower than the VIC average of 5.66% over the last 12 months.
When looking at the potential capital gains offered to property investors over the last 3 years, Maribyrnong comes in at number 311th in VIC.
LACK OF BUYER INTEREST may well be the reason that Maribyrnong is offering property investors an average of -4.68. This rate of discount on properties puts Suburb at number 125th in terms of most discounted suburbs in VIC
Using the current median advertised rental of $380 and the average annual increase in value of a median property of 4.64%, investors should hope to achieve an overall return of 4.24%
Just 8km to Melbourne's north-west on the banks of the Maribyrnong River, this suburb is characterised by parklands and a leafy outlook. it is known for its multicultural demography and diverse range of shops and restaurants.
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Three-bedroom homes that are close to parks and public transport are the most sought after in Maribyrnong; especially those with lock-up garages for close to $600,000.
Large, established homes on big land parcels are tightly held and hard to get a piece of, but new estates have been popping up recently, making double-storey homes quite accessible.
A massive development at Highpoint Shopping Centre is adding value and employment to the suburb and will feature more than 400 stores.
Other notable amenities are the aquatic centre, a college and three primary schools.Full summary
Selling points: Maribyrnong is surrounded by parklands and the Maribyrnong River; along with having a multicultural diversity of shops and restaurants. Don’t forget the bonus of being situated within 8km of the CBD.
Most sought after properties: Three-bedroom homes with a double lock-up garage in the early to mid $600,000 range, close to transport, and parklands.
Most common properties: Maribyrnong can be characterised into three different parts. The old established pocket (tightly held), which comprises both weather board and brick homes on large parcels of land; then the three different estates of double storey homes, such as Waterford Green, Riverbank Estate, and the most popular Edgewater.
Top amenities: Highpoint Shopping Centre (one of the biggest shopping malls in Victoria), which is being upgraded to comprise more car parking and a new set of trendy shops and cafes. The Maribyrnong Aquatic centre, Maribyrnong College and three primary schools are also close at hand.
Local industry and business: Highpoint Shopping Centre features more than 400 stores covering all major brands, along with a homemaker centre.
Recent changes: The $300 million development at Highpoint Shopping Centre will add an additional 30,000 square metres, making it one of the largest shopping centres in Australia on completion. The addition of the Edgewater Estate drove the prices of Maribyrnong upwards, and most of the expensive homes sold in Maribyrnong over the last three years have been from Edgewater.
Best streets: The best streets to buy in are the ones close to St Margaret’s Primary and Maribyrnong College. These include The Esplanade, Macedon St, Pridham St, and Kellaway Street.
Public transport: Tram 82 leads to Footscray train station and Moonee Ponds train station. Tram 57 leads to Elizabeth Street in the City. There are also bus routes that lead to the same destinations.
Main arteries: You have main roads such as Ballarat Rd and Dynon Rd that get you access to the Docklands and the Melbourne CBD.