Property value increases in Somerville have tracked just higher than the VIC average of 8.06% 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 24.33% across each of those five years.
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 Somerville, 3912. Typically our figures indicate that -3.40% is being offered, which puts this VIC suburb at 3492th most discounted overall in Australia.
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 33.86 for properties listed there.
Situated 49.13km from the CBD, Somerville is one of Mornington Peninsula localities in the postcode 3912.
Somerville has had a pretty average year for property investment returns compared to the rest of VIC, giving investors a capital gain of 3.29% to date .
Somerville,3912 was ranked 624 in Australia by increase in median property value over the quarter.
Our latest figures would indicate that property sellers in Somerville are currently offering property investors an average price cut of -3.70% below the asking price at the moment.
Often selling an investment property can take time, and in Somerville the average time real estate has been on the market is 36.34 days.
Property investors should expect to get $310 weekly from the median priced house in this suburb.