If you compare the increase in value of investment property in Canadian, 3350 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 2.94%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Canadian has increased when compared to the 5 year average annual rate.
Vendor discounting in Canadian is giving property investors an average Vendor Discount of around -3.58%. This puts suburb at number 555th in VIC when ranking the most discounted suburbs.
In the last year 100 properties changed hands in Canadian, which puts it as the 241th most active market in VIC when comparing the number of sales per suburb.
Property investors who have had real estate in Canadian, 3350 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 9.46%
A 13.86% growth in median value for property investors in Canadian,3350 puts this suburb at number 21th in terms of best performing suburbs in VIC
Our latest figures would indicate that property sellers in Canadian are currently offering property investors an average price cut of -2.44% below the asking price at the moment.
With the median price for a house in Canadian being $283500 and the advertised rent reaching $300 the gross rental yield for property investors calculates out to be 5.50%
Information supplied by:
Affordability with growth potential
Median house price: $346,500
Three-year growth: 6.6%
Rental yield: 4.5%
A hop and a skip from the Ballarat CBD, the suburb of Canadian is right on the rural-urban fringe. It was named for Canadian gold digger Henry Ross, who was a prominent figure in 1854’s Eureka Rebellion in Ballarat.
Canadian is home to parks and reserves like Sparrow Ground. It houses Lake Esmond, which was converted from a quarry and now serves as a recreational spot for rotary clubs and residents alike.
The suburb is very affordable, with houses selling at a median value of under $350,000. Price growth has been steady for five years – most recently, Canadian reported an increase of 5.5% in the year to August 2018. Rentals have gone very well as well in this period – rental vacancy rates fell from an average of 6.4% to just 5% on a weekly average rent rate of $300.