South Morang, 3752 ranked 192th in VIC when comparing growth in median property values or capital gain over the last 12 months. South Morang is one of 2098 in our list for VIC
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in South Morang has increased when compared to the 5 year average annual rate.
Property buyers and investors in South Morang 3752 should be seeing an average reduction in asking price of around -3.74% . This means that South Morang is holding prices well when compared to other suburbs in VIC.
Renters in Suburb are facing rents around $4440 per annum or $370 every week.
Property value increases in South Morang have tracked close to the VIC average of 3.63% over the last 12 months.
South Morang,3752 has offered an average of 3.19% return per annum in house price rises to property investors over the last three years.
Sellers are offering property buyers an average discount of -4.29% to buyers in South Morang at the moment, which is less than average for the rest of VIC.
The VIC suburb of South Morang, 3752 is in the Whittlesea local government area.
South Morang has had a quite poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -1.70% to date.
Information supplied by:
Stockdale & Leggo
03 9407 9100
0422 577 353
Across a shorter period, South Morang, 3752 has seen a median price increase of -1.46% over the last quarter.
At number 481th of VIC’s most discounted properties, South Morang is in the TOP 30% of the state/territory when listing in order of most discounted to least.
A $350 per week rent on the median house gives suburb investors a gross yield of circa 4.49%, without taking into account capital value appreciation, which has been averaging out at 4.42%.Full summary
A $350 per week rent on the median house gives suburb investors a gross yield of circa 4.49%, without taking into account capital value appreciation, which has been averaging out at 4.42%.
Selling points: Properties close proximity to Westfield Shopping Centre, South Morang train station, and within easy access to Plenty Road
Most sought after properties: 3-4 bedroom homes up to $450,000 in value. This is the most popular price bracket for 1st home buyers. As a buyer you can also buy a property under 9 years old in most cases in this price bracket.
Most common properties: 3-4 bedroom homes of about 25 sq on an average block size of 450 sqm. Most of these homes are under 10 years old that attracts lots of young home buyers. Most common buyer group is between the ages of 25-35 years based on our experience
South Morang train station
Westfield Plenty Valley
There are number of retirement villages.
Local industry and business:
Whittlesea Council also located in South Morang
There are number of shopping centres in and around South Morang- Westfield Plenty Valley (bordering Mill Park),
Numbers of medical centres are available in the area and there is a newly opened Super Clinique closer to South Morang Train Station.
We can identify a trend that shows buyers who sell older homes in Mill Park area are actively moving into South Morang area to upgrade their lifestyle. This means South Morang is a popular suburb for 2nd home buyers as well.
This buyer activity should push up the home values in South Morang area over the coming years.
South Morang train station