Property investors who have had real estate in Cremorne, 3121 should be 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 22.00%
While Cremorne,3121 ranked number 6th in VIC for increase in median house value (annualised) increase, it is ranked 51th over the last 5 years.
In the last year 27 properties changed hands in Cremorne, which puts it as the 546th most active market in VIC when comparing the number of sales per suburb.
Giving property investors a an average capital gain of 4.24% for the last year, Cremorne, 3121 is the 775th highest performer in Australia in this respect.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Cremorne has fallen somewhat when compared to the 5 year average annual rate.
Property investors looking for a bargain in Cremorne should be aiming for at least -4.71% off the asking price, which is the average vendor discount being achieved at the moment.
Often selling an investment property can take time, and in Cremorne the average time real estate has been on the market is 45.1 days.
Using the current median advertised rental of $470 and the average annual increase in value of a median property of 2.00%, investors should hope to achieve an overall return of 3.97%