If you compare the increase in value of investment property in Patterson Lakes, 3197 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this VIC suburb was 7.55%.
Patterson Lakes,3197 was ranked 2733 in Australia by increase in median property value over the quarter.
At number 486th of VIC’s most discounted properties, Patterson Lakes is in the TOP 30% of the state/territory when listing in order of most discounted to least.
Residents and property investors in Patterson Lakes have been waiting around 73.09 days to sell a property.
A $530 per week rent on the median house gives suburb investors a gross yield of circa 3.22%, without taking into account capital value appreciation, which has been averaging out at 6.55%.
VIC has seen average median house prices change by 4.83% which means that Patterson Lakes, 3197 has done well for property investors by showing a capital gain of -0.53% over the last year
While Patterson Lakes,3197 ranked number 64th in VIC for increase in median house value (annualised) increase, it is ranked 187th over the last 5 years.
LACK OF BUYER INTEREST may well be the reason that Patterson Lakes is offering property investors an average of -4.95. This rate of discount on properties puts Suburb at number 110th in terms of most discounted suburbs in VIC
Situated 32.38km from the CBD, Patterson Lakes is one of Kingston localities in the postcode 3197.