With a capital gain of 10.74% for the last 12 months, South Morang, 3752 has performed for property investments than its average annual 4.44% property growth over the last 5 years.
The five-year average increase in median property values for South Morang,3752 has given property investors a potential capital gain of 20.00% across each of those five years.
Property investors looking for a bargain in South Morang should be aiming for at least -3.93% off the asking price, which is the average vendor discount being achieved at the moment.
At number 879 in a list of fastest selling suburbs, South Morang is in the TOP 30% of suburbs in Australia with an average of days on market 60.35 for properties listed there.
Renters in Suburb are facing rents around $4440 per annum or $370 every week.
Over the last year, property investments in South Morang, 3752 have given investors a capital gain of 0.28%. This compares badly with the 3.19% for VIC as a whole.
If we look at median property appreciation over just the last three months, South Morang has given property investors a paper return of -0.56%. This puts Suburb as 236 on a list of fastest fasting appreciating suburbs in VIC
At number 252th 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.
Using the current median advertised rental of $320 and the average annual increase in value of a median property of 3.03%, investors should hope to achieve an overall return of 4.67%
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