VIC has seen average median house prices change by 8.27% which means that Mckinnon, 3204 has done well for property investors by showing a capital gain of 16.90% over the last year
Mckinnon,3204 has offered an average of 16.90% return per annum in house price rises to property investors over the last three years.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.91% offered to property buyers. Sellers in Mckinnon itself are offering an average vendor discount of -10.26% to real estate investors.
Property value increases in Mckinnon have tracked close to the VIC average of 3.49% over the last 12 months.
While Mckinnon,3204 ranked number 7th in VIC for increase in median house value (annualised) increase, it is ranked 134th over the last 5 years.
LACK OF BUYER INTEREST may well be the reason that Mckinnon is offering property investors an average of -5.13. This rate of discount on properties puts Suburb at number 10th in terms of most discounted suburbs in VIC
At number 285 in a list of fastest selling suburbs, Mckinnon is in the TOP 20% of suburbs in Australia with an average of days on market 53.64 for properties listed there.
Using the current median advertised rental of $450 and the average annual increase in value of a median property of 6.85%, investors should hope to achieve an overall return of 3.31%