VIC has seen average median house prices change by 7.80% which means that Springvale, 3171 has done well for property investors by showing a capital gain of 15.83% over the last year
Springvale,3171 was ranked 2181 in Australia by increase in median property value over the quarter.
Property investors looking for a bargain in Springvale should be aiming for at least -6.46% off the asking price, which is the average vendor discount being achieved at the moment.
Using the current median advertised rental of $365 and the average annual increase in value of a median property of 10.32%, investors should hope to achieve an overall return of 2.80%
At number 877th in the list of Australian suburbs ordered by increase in median house value over the last year, Springvale, 3171 is in the BOTTOM 50% with a property value increase of 2.87% recorded in median house prices.
Over the longer term, Springvale has seen property prices show investors a 26.47% return over the last 3 years. This is worse than over the last 12 months
Our latest figures would indicate that property sellers in Springvale are currently offering property investors an average price cut of -6.73% below the asking price at the moment.
In the last year 107 properties changed hands in Springvale, which puts it as the 82th most active market in VIC when comparing the number of sales per suburb.
Using the current median advertised rental of $330 and the average annual increase in value of a median property of 8.08%, investors should hope to achieve an overall return of 3.99%