Property investors who have had real estate in Springvale South, 3172 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 13.71%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Springvale South has increased when compared to the 5 year average annual rate.
Our latest figures would indicate that property sellers in Springvale South are currently offering property investors an average price cut of -4.35% below the asking price at the moment.
Advertised rents are around the $362.5 mark per week – giving a return of 3.16% based on the median price in Suburb
Investment property in Springvale South has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 6.58%
When looking at the potential capital gains offered to property investors over the last 3 years, Springvale South comes in at number 62th in VIC.
At number 494 in a list of fastest selling suburbs, Springvale South is in the TOP 40% of suburbs in Australia with an average of days on market 60.4 for properties listed there.
Using the current median advertised rental of $330 and the average annual increase in value of a median property of 7.36%, investors should hope to achieve an overall return of 4.41%