Burnside is an average performer in VIC when comparing median price capital growth over the last year. Burnside gave property investors a average capital gain figure when compared to the rest of the state, with 9.45%.
Across a shorter period, Burnside, 3023 has seen a median price increase of 3.79% over the last quarter.
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 Burnside, 3023. Typically our figures indicate that -3.77% is being offered, which puts this VIC suburb at 3287th most discounted overall in Australia.
A $375 per week rent on the median house gives suburb investors a gross yield of circa 3.24%, without taking into account capital value appreciation, which has been averaging out at 7.70%.
Home to the beautiful natural watercourse Kororoit Creek, Burnside is a Melbourne suburb that reported a whopping 311% increase in housing supply in the period of March 2017-2018Full summary
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Stunning level of house supply growth
Median house price: $595,000
Stock on market: 311.1%
12-month growth: 12.3%
Home to the beautiful natural watercourse Kororoit Creek, Burnside is a Melbourne suburb that reported a whopping 311% increase in housing supply in the period of March 2017-2018.
The number of houses on the market increased four-fold, from 9 to 37, across this same period. This could be a response to the consistent demand shown in this suburb, which recorded nearly 50% growth in 2015. This growth has been maintained in the three months to March 2018. In addition, houses remain on sale for an average of just 22 days before being snapped up.
The upper end of Kororoit Creek runs beside Burnside, and brings in visitors curious about the creek’s diverse population of reptiles and amphibians.Close