With a capital gain of -2.20% for the last 12 months, Greensborough, 3088 has performed for property investments than its average annual 7.26% property growth over the last 5 years.
The five-year average increase in median property values for Greensborough,3088 has given property investors a potential capital gain of 50.94% across each of those five years.
Greensborough3088 is located in VIC which offers an average discount of -5.61% to property investors. Greensborough itself is showing figures that indicate -5.95% is the average achievable by property buyers investing in the suburb.
Property investors should expect to get $460 weekly from the median priced house in this suburb.
At number 1258th in the list of Australian suburbs ordered by increase in median house value over the last year, Greensborough, 3088 is in the BOTTOM 30% with a property value increase of -7.44% recorded in median house prices.
When looking at the potential capital gains offered to property investors over the last 3 years, Greensborough comes in at number 142th in VIC.
Sellers are offering property buyers an average discount of -3.30% to buyers in Greensborough at the moment, which is less than average for the rest of VIC.
Property investors should expect to get $385 weekly from the median priced house in this suburb.
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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.