Property value increases in Wheelers Hill have tracked just lower than the VIC average of 7.68% 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 Wheelers Hill has increased when compared to the 5 year average annual rate.
Our latest figures would indicate that property sellers in Wheelers Hill are currently offering property investors an average price cut of -5.27% below the asking price at the moment.
In the last year 205 properties changed hands in Wheelers Hill, which puts it as the 105th most active market in VIC when comparing the number of sales per suburb.
A $475 per week rent on the median house gives suburb investors a gross yield of circa 2.47%, without taking into account capital value appreciation, which has been averaging out at 9.28%.
If you compare the increase in value of investment property in Wheelers Hill, 3150 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 15.20%.
A 38.20% growth in median value for property investors in Wheelers Hill,3150 puts this suburb at number 294th in terms of best performing suburbs in VIC
Wheelers Hill is 340th on a list of best yielding suburbs for rents in VIC with a 3.03% return