South Morang is in the TOP 30% in VIC when comparing median price capital growth over the last year. South Morang gave property investors a good capital gain figure when compared to the rest of the state, with 17.96%.
Comparing South Morang,3752 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in South Morang, 3752. Typically our figures indicate that -4.77% is being offered, which puts this VIC suburb at 2384th most discounted overall in Australia.
Using the current median advertised rental of $380 and the average annual increase in value of a median property of 5.95%, investors should hope to achieve an overall return of 3.48%
Giving property investors a an average capital gain of 4.17% for the last year, South Morang, 3752 is the 854th highest performer in Australia in this respect.
Across a shorter period, South Morang, 3752 has seen a median price increase of 1.35% over the last quarter.
The most recent median price for South Morang is $375000, with sellers offering an average of -3.88% off the asking price.
Often selling an investment property can take time, and in South Morang the average time real estate has been on the market is 76.93 days.
South Morang, 3752’s gross rental yield is 4.58%
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