VIC has seen average median house prices change by 1.54% which means that Hurstbridge, 3099 has done well for property investors by showing a capital gain of 5.49% over the last year
Comparing Hurstbridge,3099 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Property investors looking for a bargain in Hurstbridge should be aiming for at least -6.26% off the asking price, which is the average vendor discount being achieved at the moment.
Renters in Suburb are facing rents around $23400 per annum or $450 every week.
Information supplied by:
Houses see much demand from occupants
Median house price: $716,000
Three-year growth: 47.3%
Rental yield: 3.1%
The suburb of Hurstbridge sits at the junction of Diamond Creek and Arthurs Creek. It has considerable long-term appeal for buyers.
Steady year-on-year increases in house values have brought the median price to over $700,000 as of May 2018. The growth recorded in the 2017-2018 period was 14.6%, with such properties being snapped up after an average of just 26 days on the market. The rental market is extremely tight, with the average vacancy rate coming in at 0.3%, which spells very good news for investors even though the average yield is only 3.1% at a weekly rent rate of $425.
Hurstbridge has an active food scene, and its many attractions include wineries and farmer’s markets. Commuters can reach the Melbourne CBD by train via the Hurstbridge Railway Station. Schools are located nearby in neighbouring suburb Diamond Creek.