At number 598th in the list of Australian suburbs ordered by increase in median house value over the last year, Somerville, 3912 is in the top 20% with a property value increase of 15.68% recorded in median house prices.
Somerville,3912 has offered an average of 15.68% return per annum in house price rises to property investors over the last three years.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.80% offered to property buyers. Sellers in Somerville itself are offering an average vendor discount of -2.50% to real estate investors.
Residents and property investors in Somerville have been waiting around 30.09 days to sell a property.
Situated 49.42km from the CBD, Somerville is one of Mornington Peninsula localities in the postcode 3912.
Somerville is in the TOP 20% in VIC when comparing median price capital growth over the last year. Somerville gave property investors a very good capital gain figure when compared to the rest of the state, with 12.05%.
Taking the average capital gain, or increase in median house value, Somerville,3912 has racked up an average of 12.05% over the period. This ranks it number 1340th in the whole country for real estate investors looking at median house price increases.
Property buyers and investors in Somerville 3912 should be seeing an average reduction in asking price of around -4.05% . This means that Somerville is holding prices well when compared to other suburbs in VIC.
Using the current median advertised rental of $320 and the average annual increase in value of a median property of 5.24%, investors should hope to achieve an overall return of 4.65%