At number 1380th in the list of Australian suburbs ordered by increase in median house value over the last year, Dromana, 3936 is in the top 40% with a property value increase of 8.47% recorded in median house prices.
The five-year average increase in median property values for Dromana,3936 has given property investors a potential capital gain of 30.16% across each of those five years.
LACK OF BUYER INTEREST may well be the reason that Dromana is offering property investors an average of -5.91. This rate of discount on properties puts Suburb at number 165th in terms of most discounted suburbs in VIC
In the last year 192 properties changed hands in Dromana, which puts it as the 121th most active market in VIC when comparing the number of sales per suburb.
Situated 58.34km from the CBD, Dromana is one of Mornington Peninsula localities in the postcode 3936.
With a capital gain of 32.25% for the last 12 months, Dromana, 3936 has performed for property investments than its average annual 8.68% property growth over the last 5 years.
While Dromana,3936 ranked number 131th in VIC for increase in median house value (annualised) increase, it is ranked 58th over the last 5 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 Dromana, 3936. Typically our figures indicate that -6.13% is being offered, which puts this VIC suburb at 475th most discounted overall in Australia.
A $310 per week rent on the median house gives suburb investors a gross yield of circa 3.05%, without taking into account capital value appreciation, which has been averaging out at 8.68%.