Property value increases in Patterson Lakes have tracked just lower than the VIC average of 8.12% over the last 12 months.
The five-year average increase in median property values for Patterson Lakes,3197 has given property investors a potential capital gain of 35.58% across each of those five years.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.00% offered to property buyers. Sellers in Patterson Lakes itself are offering an average vendor discount of -5.13% to real estate investors.
Situated 32.67km from the CBD, Patterson Lakes is one of Kingston localities in the postcode 3197.
Over the last year, property investments in Patterson Lakes, 3197 have given investors a capital gain of -10.42%. This compares very badly with the 2.98% for VIC as a whole.
Patterson Lakes,3197 was ranked 1551 in Australia by increase in median property value over the quarter.
At number 203th of VIC’s most discounted properties, Patterson Lakes is in the TOP 40% of the state/territory when listing in order of most discounted to least.
In the last year 50 properties changed hands in Patterson Lakes, which puts it as the 174th most active market in VIC when comparing the number of sales per suburb.
Using the current median advertised rental of $400 and the average annual increase in value of a median property of 3.41%, investors should hope to achieve an overall return of 4.84%