Investment property in Burnside has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 8.40%
If we look at median property appreciation over just the last three months, Burnside has given property investors a paper return of 1.50%. This puts Suburb as 282 on a list of fastest fasting appreciating suburbs in VIC
Property investors looking for a bargain in Burnside should be aiming for at least -3.44% off the asking price, which is the average vendor discount being achieved at the moment.
Burnside, 3023’s gross rental yield is 3.32%
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