Property value increases in Balwyn have tracked lower than the VIC average of 8.06% over the last 12 months.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Balwyn has increased when compared to the 5 year average annual rate.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Balwyn, 3103. Typically our figures indicate that -5.41% is being offered, which puts this VIC suburb at 2289th most discounted overall in Australia.
On average over the past year, suburb has had 16.50 sales per month, which equates to 198 per year.
Using the current median advertised rental of $680 and the average annual increase in value of a median property of 10.24%, investors should hope to achieve an overall return of 1.67%
Giving property investors a a poor capital gain of -18.62% for the last year, Balwyn, 3103 is the 1682th highest performer in Australia in this respect.
While Balwyn,3103 ranked number 339th in VIC for increase in median house value (annualised) increase, it is ranked 211th over the last 5 years.
LACK OF BUYER INTEREST may well be the reason that Balwyn is offering property investors an average of -5.12. This rate of discount on properties puts Suburb at number 29th in terms of most discounted suburbs in VIC
Often selling an investment property can take time, and in Balwyn the average time real estate has been on the market is 116.5 days.
With the median price for a house in Balwyn being $649000 and the advertised rent reaching $420 the gross rental yield for property investors calculates out to be 3.37%