Over the last year, property investments in Essendon West, 3040 have given investors a capital gain of 17.73%. This compares very favourably with the 9.78% for VIC as a whole.
Essendon West,3040 was ranked 326 in Australia by increase in median property value over the quarter.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.71% offered to property buyers. Sellers in Essendon West itself are offering an average vendor discount of -7.71% to real estate investors.
Using the current median advertised rental of $460 and the average annual increase in value of a median property of 9.28%, investors should hope to achieve an overall return of 2.20%