Property value increases in Tarneit have tracked just higher than the VIC average of -0.15% over the last 12 months.
The five-year average increase in median property values for Tarneit,3029 has given property investors a potential capital gain of 44.40% across each of those five years.
Vendor discounting in Tarneit is giving property investors an average Vendor Discount of around -7.78%. This puts suburb at number 129th in VIC when ranking the most discounted suburbs.
Often selling an investment property can take time, and in Tarneit the average time real estate has been on the market is 65.9167 days.
Using the current median advertised rental of $390 and the average annual increase in value of a median property of 6.23%, investors should hope to achieve an overall return of 3.66%
Tarneit has had a pretty good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 3.92% to date .
Taking the average capital gain, or increase in median house value, Tarneit,3029 has racked up an average of 3.92% over the period. This ranks it number 152th in the whole country for real estate investors looking at median house price increases.
Tarneit, 3029 is offering VIC ‘s 14th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 10% of discounts offered by this VIC.
Tarneit, 3029’s gross rental yield is 4.58%
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Wyndham City suburb is tight
Median unit price: $365,000
Vacancy rate: 1.7%
Three-year growth: 19.7%
A rapidly growing suburb 7km from Werribee, Tarneit’s falling vacancy rate is representing its new popularity.
The average vacancy rate slipped from an already-low 1.8% to just 1.7% in the past 12 months leading up to November 2017. This could be due in part to the suburb’s affordability – apartments sell for a median price of $365,000. Moreover, it has strong growth potential, with much positive growth over the most recent five-year period. Rental yields are also reasonable at 4.6%.
Once mainly an agricultural area, Tarneit has been undergoing gentrification. It is the site of several schools, including Thomas Carr College, Baden Powell Prep and the Islamic College of Melbourne. Tarneit Central Shopping Centre was recently opened, and contains a supermarket.