At number 590th in the list of Australian suburbs ordered by increase in median house value over the last year, Truganina, 3029 is in the top 20% with a property value increase of 14.69% recorded in median house prices.
When looking at the potential capital gains offered to property investors over the last 3 years, Truganina comes in at number 114th in VIC.
Property investors looking for a bargain in Truganina should be aiming for at least -6.33% off the asking price, which is the average vendor discount being achieved at the moment.
Truganina, 3029’s gross rental yield is 3.65%
Truganina has had a quite poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of 1.95% to date .
If we look at median property appreciation over just the last three months, Truganina has given property investors a paper return of -4.27%. This puts Suburb as 303 on a list of fastest fasting appreciating suburbs in VIC
At number 987 in a list of fastest selling suburbs, Truganina is just in the bottom half of suburbs in Australia with an average of days on market 84 for properties listed there.
Truganina is 97th on a list of best yielding suburbs for rents in VIC with a 4.67% return
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.