At number 172th in the list of Australian suburbs ordered by increase in median house value over the last year, Parkville, 3052 is in the top 10% with a property value increase of 23.15% recorded in median house prices.
When looking at the potential capital gains offered to property investors over the last 3 years, Parkville comes in at number 109th in VIC.
Renters in Suburb are facing rents around $5340 per annum or $445 every week.
Property value increases in Parkville have tracked higher than the VIC average of 3.56% over the last 12 months.
Across a shorter period, Parkville, 3052 has seen a median price increase of 10.00% over the last quarter.
Property investors looking for a bargain in Parkville should be aiming for at least -7.51% off the asking price, which is the average vendor discount being achieved at the moment.
In the last year 43 properties changed hands in Parkville, which puts it as the 203th most active market in VIC when comparing the number of sales per suburb.
Using the current median advertised rental of $400 and the average annual increase in value of a median property of 7.19%, investors should hope to achieve an overall return of 3.78%