Property value increases in Somerville have tracked higher than the VIC average of 11.41% over the last 12 months.
If we look at median property appreciation over just the last three months, Somerville has given property investors a paper return of 5.66%. This puts Suburb as 116 on a list of fastest fasting appreciating suburbs in VIC
Property buyers and investors in Somerville 3912 should be seeing an average reduction in asking price of around -3.44% . This means that Somerville is holding prices well when compared to other suburbs in VIC.
Often selling an investment property can take time, and in Somerville the average time real estate has been on the market is 28.09 days.
A $390 per week rent on the median house gives suburb investors a gross yield of circa 3.62%, without taking into account capital value appreciation, which has been averaging out at 7.75%.
Giving property investors a a solid capital gain of 20.00% for the last year, Somerville, 3912 is the 164th highest performer in Australia in this respect.
Over the longer term, Somerville has seen property prices show investors a 13.37% return over the last 3 years. This is an improvement over the last 12 months
At number 271th of VIC’s most discounted properties, Somerville is in the TOP 20% of the state/territory when listing in order of most discounted to least.
Property investors should expect to get $330 weekly from the median priced house in this suburb.