Property investors who have had real estate in Plumpton, 3335 should be pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 23.12%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Plumpton has increased when compared to the 5 year average annual rate.
Situated 30km northwest of the Melbourne CBD, the suburb of Plumpton saw housing stock skyrocket over the past 12 months from 79 listings to over 200Full summary
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Median house price: $495,000
Stock on market: 168.4%
12-month growth: 3.9%
Situated 30km northwest of the Melbourne CBD, the suburb of Plumpton saw housing stock skyrocket over the past 12 months from 79 listings to over 200.
In the most recent three-year period, prices in this area picked up – while the growth has been gentle, it has been steady. Though supply levels have increased, Plumpton is expected to continue to hold capital growth potential. Yields are also quite strong at an average of 4.6%, which although is not considered a “high yield”, is still quite strong for a capital city location.
Plumpton is less than an hour from Melbourne via the Melton Highway, and with the median house value at less than $500,000, it could be a good option for residents looking for a home reasonably close to the capital.Close