With a capital gain of 22.40% for the last 12 months, Truganina, 3029 has performed for property investments than its average annual 6.87% property growth over the last 5 years.
Comparing Truganina,3029 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
LACK OF BUYER INTEREST may well be the reason that Truganina is offering property investors an average of -5.08. This rate of discount on properties puts Suburb at number 406th in terms of most discounted suburbs in VIC
At number 934 in a list of fastest selling suburbs, Truganina is in the TOP 30% of suburbs in Australia with an average of days on market 52.98 for properties listed there.
Property investors who have had real estate in Truganina, 3029 should be relatively pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 9.50%
Across a shorter period, Truganina, 3029 has seen a median price increase of 0.00% over the last quarter.
Property buyers and investors in Truganina 3029 should be seeing an average reduction in asking price of around -3.65% . This means that Truganina is holding prices well when compared to other suburbs in VIC.
Truganina, 3029’s gross rental yield is 4.68%
A rural-urban suburb that is seeing remarkable growth, Truganina is fast becoming popular among buyersFull summary
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Houses are in low supply
Median house price: $490,000
Stock on market: -27.0%
12-month growth: 19.5%
A rural-urban suburb that is seeing remarkable growth, Truganina is fast becoming popular among buyers.
The number of houses in the area fell by over 100 in the 12 months leading up to November 2017. This has been accompanied by a drop in vacancy rate from 2.3% to 1.9%, indicating that the fall in supply has heightened competition for vacant homes. On the flip side, however, the number of units went up from just 5 in 2016 to 16 in 2017.
A factor in Truganina’s popularity could be because of its affordability – the median house value is under $500,000, and the suburb recorded a 19.5% boost in prices over this period. Another contributor is Truganina being well-stocked in amenities and being a transport hub.