Patterson Lakes is an average performer in VIC when comparing median price capital growth over the last year. Patterson Lakes gave property investors a average capital gain figure when compared to the rest of the state, with 7.89%.
The five-year average increase in median property values for Patterson Lakes,3197 has given property investors a potential capital gain of 37.88% 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 -6.04% offered to property buyers. Sellers in Patterson Lakes itself are offering an average vendor discount of -5.59% to real estate investors.
Using the current median advertised rental of $540 and the average annual increase in value of a median property of 6.22%, investors should hope to achieve an overall return of 3.45%
Patterson Lakes has had a quite poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -1.04% to date .
The five-year average increase in median property values for Patterson Lakes,3197 has given property investors a potential capital gain of 10.19% across each of those five years.
Property investors looking for a bargain in Patterson Lakes should be aiming for at least -4.22% off the asking price, which is the average vendor discount being achieved at the moment.
On average over the past year, suburb has had 4.17 sales per month, which equates to 50 per year.
Situated 31.68km from the CBD, Patterson Lakes is one of Kingston localities in the postcode 3197.