Giving property investors a a stable capital gain of 11.12% for the last year, Greensborough, 3088 is the 862th highest performer in Australia in this respect.
Across a shorter period, Greensborough, 3088 has seen a median price increase of 0.76% over the last quarter.
The most recent median price for Greensborough is $842850, with sellers offering an average of -3.96% off the asking price.
On average over the past year, suburb has had 17.42 sales per month, which equates to 209 per year.
A $445 per week rent on the median house gives suburb investors a gross yield of circa 2.75%, without taking into account capital value appreciation, which has been averaging out at 7.69%.
At number 793th in the list of Australian suburbs ordered by increase in median house value over the last year, Greensborough, 3088 is in the top half with a property value increase of 2.98% recorded in median house prices.
Over the longer term, Greensborough has seen property prices show investors a 32.31% return over the last 3 years. This is worse than over the last 12 months
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Greensborough, 3088. Typically our figures indicate that -2.46% is being offered, which puts this VIC suburb at 1356th most discounted overall in Australia.
In the last year 68 properties changed hands in Greensborough, which puts it as the 113th most active market in VIC when comparing the number of sales per suburb.
With the median price for a house in Greensborough being $605000 and the advertised rent reaching $365 the gross rental yield for property investors calculates out to be 3.14%
Originally named Keelbundoora, which is an Aboriginal term for “a round swamp,” Greensborough is a historic suburb that was first established in the 1850s. It is bordered by bushland, and Plenty River runs through itFull summary
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Regional hub sees boom in unit demand
Median unit price: $597,000
Three-year growth: 38.2%
Rental yield: 3.1%
Originally named Keelbundoora, which is an Aboriginal term for “a round swamp,” Greensborough is a historic suburb that was first established in the 1850s. It is bordered by bushland, and Plenty River runs through it.
This suburb is characterised by strong growth, with unit prices soaring by nearly 20% in the past 12 months leading up to November 2017. Apartments are selling at low discount rates, suggesting that buyers are definitely seeing potential in this area. This is supported by the fact that units are snapped up within an average of 45 days of being placed on the market.
Greensborough is home to Greensborough Plaza, which is the main shopping hub for the suburbs in Melbourne’s north east. More shops line Main Street. A new aquatic centre has also been constructed. The main offices of the Banyule City Council also moved to Greensborough recently.Close