Property investors who have had real estate in Mckinnon, 3204 should be ok 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 6.87%
Comparing Mckinnon,3204 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
The most recent median price for Mckinnon is $1665000, with sellers offering an average of -10.26% off the asking price.
Often selling an investment property can take time, and in Mckinnon the average time real estate has been on the market is 45.68 days.
With the median price for a house in Mckinnon being $1665000 and the advertised rent reaching $650 the gross rental yield for property investors calculates out to be 2.03%
Giving property investors a a stable capital gain of 9.07% for the last year, Mckinnon, 3204 is the 502th highest performer in Australia in this respect.
While Mckinnon,3204 ranked number 72th in VIC for increase in median house value (annualised) increase, it is ranked 179th over the last 5 years.
Vendor discounting in Mckinnon is giving property investors an average Vendor Discount of around -11.67%. This puts suburb at number 6th in VIC when ranking the most discounted suburbs.
In the last year 56 properties changed hands in Mckinnon, which puts it as the 163th most active market in VIC when comparing the number of sales per suburb.
A $460 per week rent on the median house gives suburb investors a gross yield of circa 3.40%, without taking into account capital value appreciation, which has been averaging out at 3.71%.