Investment property in Ormond has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 0.00%
If we look at median property appreciation over just the last three months, Ormond has given property investors a paper return of -2.60%. This puts Suburb as 646 on a list of fastest fasting appreciating suburbs in VIC
Sellers are offering property buyers an average discount of -7.69% to buyers in Ormond at the moment, which is less than average for the rest of VIC.
Advertised rents are around the $630 mark per week – giving a return of 2.18% based on the median price in Suburb
At number 1456th in the list of Australian suburbs ordered by increase in median house value over the last year, Ormond, 3204 is in the BOTTOM 20% with a property value increase of -6.06% recorded in median house prices.
Over the longer term, Ormond has seen property prices show investors a -3.27% return over the last 3 years. This is worse than over the last 12 months
LACK OF BUYER INTEREST may well be the reason that Ormond is offering property investors an average of -4.87. This rate of discount on properties puts Suburb at number 86th in terms of most discounted suburbs in VIC
Often selling an investment property can take time, and in Ormond the average time real estate has been on the market is 66.59 days.
Using the current median advertised rental of $380 and the average annual increase in value of a median property of 5.18%, investors should hope to achieve an overall return of 4.05%