Property value increases in Somerville have tracked higher than the VIC average of 10.83% over the last 12 months.
The five-year average increase in median property values for Somerville,3912 has given property investors a potential capital gain of 45.57% across each of those five years.
Property buyers and investors in Somerville 3912 should be seeing an average reduction in asking price of around -2.68% . This means that Somerville is holding prices well when compared to other suburbs in VIC.
Renters in Suburb are facing rents around $4680 per annum or $390 every week.
If you compare the increase in value of investment property in Somerville, 3912 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 12.92%.
Taking the average capital gain, or increase in median house value, Somerville,3912 has racked up an average of 12.92% over the period. This ranks it number 1146th in the whole country for real estate investors looking at median house price increases.
LACK OF BUYER INTEREST may well be the reason that Somerville is offering property investors an average of -4.83. This rate of discount on properties puts Suburb at number 246th in terms of most discounted suburbs in VIC
A $330 per week rent on the median house gives suburb investors a gross yield of circa 4.68%, without taking into account capital value appreciation, which has been averaging out at 5.56%.