VIC has seen average median house prices change by 11.00% which means that Westmeadows, 3049 has done well for property investors by showing a capital gain of 13.23% over the last year
If we look at median property appreciation over just the last three months, Westmeadows has given property investors a paper return of 4.64%. This puts Suburb as 159 on a list of fastest fasting appreciating suburbs in VIC
LACK OF BUYER INTEREST may well be the reason that Westmeadows is offering property investors an average of -5.26. This rate of discount on properties puts Suburb at number 18th in terms of most discounted suburbs in VIC
On average over the past year, suburb has had 6.33 sales per month, which equates to 76 per year.
A $360 per week rent on the median house gives suburb investors a gross yield of circa 3.39%, without taking into account capital value appreciation, which has been averaging out at 7.82%.
Investment property in Westmeadows has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 12.86%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Westmeadows has increased when compared to the 5 year average annual rate.
Property buyers and investors in Westmeadows 3049 should be seeing an average reduction in asking price of around -4.17% . This means that Westmeadows is holding prices well when compared to other suburbs in VIC.
Renters in Suburb are facing rents around $4410 per annum or $367.5 every week.