Property value increases in Bundoora have tracked just lower than the VIC average of 8.62% over the last 12 months.
Comparing Bundoora,3083 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Our latest figures would indicate that property sellers in Bundoora are currently offering property investors an average price cut of -4.98% below the asking price at the moment.
A $420 per week rent on the median house gives suburb investors a gross yield of circa 2.95%, without taking into account capital value appreciation, which has been averaging out at 7.10%.
At number 562th in the list of Australian suburbs ordered by increase in median house value over the last year, Bundoora, 3083 is in the top 40% with a property value increase of 6.88% recorded in median house prices.
The five-year average increase in median property values for Bundoora,3083 has given property investors a potential capital gain of 5.00% across each of those five years.
Bundoora, 3083 is offering VIC ‘s 85th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 30% of discounts offered by this VIC.
On average over the past year, suburb has had 14.42 sales per month, which equates to 173 per year.
Using the current median advertised rental of $360 and the average annual increase in value of a median property of 3.60%, investors should hope to achieve an overall return of 4.35%
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
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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