Investment property in Bundoora has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -4.47%
Comparing Bundoora,3083 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Vendor discounting in Bundoora is giving property investors an average Vendor Discount of around -5.39%. This puts suburb at number 287th in VIC when ranking the most discounted suburbs.
Using the current median advertised rental of $430 and the average annual increase in value of a median property of 6.86%, investors should hope to achieve an overall return of 3.10%
Property value increases in Bundoora have tracked close to the VIC average of 2.97% over the last 12 months.
When looking at the potential capital gains offered to property investors over the last 3 years, Bundoora comes in at number 233th in VIC.
At number 159th of VIC’s most discounted properties, Bundoora is in the TOP 30% of the state/territory when listing in order of most discounted to least.
A $380 per week rent on the median house gives suburb investors a gross yield of circa 4.87%, without taking into account capital value appreciation, which has been averaging out at 2.73%.
The large suburb of Bundoora, around 18km from Melbourne’s city centre, experienced an interesting year in terms of property supply, with unit stock falling while housing stick increasedFull summary
Information supplied by:
Apartment supply falls
Median unit price: $433,000
Stock on market: 0.7%
12-month growth: 9.6%
The large suburb of Bundoora, around 18km from Melbourne’s city centre, experienced an interesting year in terms of property supply, with unit stock falling while housing stick increased.
The number of units dropped from 80 to 62 between April 2017 and 2018, while that of houses went from 68 to 87. Even then, the apartment market continues to record growth, with values going up by nearly 10% in this period. The median price remains affordable at under $450,000, which could drive further interest.
Investors seeking a steady stream of potential tenants may find this suburb appealing, as campuses of La Trobe University and RMIT are situated here, as are many other primary and secondary schools, making it a popular suburb with student residents and families. The La Trobe University bus link also facilitates travel throughout Melbourne.Close