With a capital gain of 11.76% for the last 12 months, Truganina, 3029 has performed for property investments than its average annual 6.76% property growth over the last 5 years.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Truganina has increased when compared to the 5 year average annual rate.
Sellers are offering property buyers an average discount of -7.49% to buyers in Truganina at the moment, which is less than average for the rest of VIC.
Truganina, 3029 ranked 136th in VIC when comparing growth in median property values or capital gain over the last 12 months. Truganina is one of 2099 in our list for VIC
Across a shorter period, Truganina, 3029 has seen a median price increase of -1.20% over the last quarter.
Advertised rents are around the $360 mark per week – giving a return of 4.57% based on the median price in Suburb
Information supplied by:
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.