Property value increases in Patterson Lakes have tracked just lower than the VIC average of 8.96% over the last 12 months.
While Patterson Lakes,3197 ranked number 308th in VIC for increase in median house value (annualised) increase, it is ranked 262th over the last 5 years.
Patterson Lakes3197 is located in VIC which offers an average discount of -5.87% to property investors. Patterson Lakes itself is showing figures that indicate -5.79% is the average achievable by property buyers investing in the suburb.
On average over the past year, suburb has had 9.75 sales per month, which equates to 117 per year.
Using the current median advertised rental of $530 and the average annual increase in value of a median property of 6.16%, investors should hope to achieve an overall return of 3.32%
Patterson Lakes, 3197 ranked 354th in VIC when comparing growth in median property values or capital gain over the last 12 months. Patterson Lakes is one of 2098 in our list for VIC
The five-year average increase in median property values for Patterson Lakes,3197 has given property investors a potential capital gain of 11.30% across each of those five years.
The most recent median price for Patterson Lakes is $448000, with sellers offering an average of -4.37% off the asking price.
Using the current median advertised rental of $395 and the average annual increase in value of a median property of 4.17%, investors should hope to achieve an overall return of 4.58%