Over the last year, property investments in Norlane, 3214 have given investors a capital gain of 6.31%. This compares badly with the 8.06% for VIC as a whole.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Norlane has increased when compared to the 5 year average annual rate.
Sellers are offering property buyers an average discount of -5.66% to buyers in Norlane at the moment, which is less than average for the rest of VIC.
A $240 per week rent on the median house gives suburb investors a gross yield of circa 5.39%, without taking into account capital value appreciation, which has been averaging out at 5.30%.
If you compare the increase in value of investment property in Norlane, 3214 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 6.05%.
Over the longer term, Norlane has seen property prices show investors a 1.22% return over the last 3 years. This is an improvement over the last 12 months
LACK OF BUYER INTEREST may well be the reason that Norlane is offering property investors an average of -5.12. This rate of discount on properties puts Suburb at number 132th in terms of most discounted suburbs in VIC
With the median price for a house in Norlane being $227750 and the advertised rent reaching $250 the gross rental yield for property investors calculates out to be 5.71%