Somerville, 3912 ranked 226th in VIC when comparing growth in median property values or capital gain over the last 12 months. Somerville 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 Somerville has increased when compared to the 5 year average annual rate.
Our latest figures would indicate that property sellers in Somerville are currently offering property investors an average price cut of -3.74% below the asking price at the moment.
At number 79 in a list of fastest selling suburbs, Somerville is in the TOP 10% of suburbs in Australia with an average of days on market 34.06 for properties listed there.
With the median price for a house in Somerville being $460000 and the advertised rent reaching $377.5 the gross rental yield for property investors calculates out to be 4.27%
Property value increases in Somerville have tracked close to the VIC average of 3.19% over the last 12 months.
While Somerville,3912 ranked number 187th in VIC for increase in median house value (annualised) increase, it is ranked 216th over the last 5 years.
The most recent median price for Somerville is $325250, with sellers offering an average of -3.16% off the asking price.
On average over the past year, suburb has had 3.50 sales per month, which equates to 42 per year.
With the median price for a house in Somerville being $325250 and the advertised rent reaching $310 the gross rental yield for property investors calculates out to be 4.96%