Minyip, 3392 ranked 559th in VIC when comparing growth in median property values or capital gain over the last 12 months. Minyip is one of 2099 in our list for VIC
Taking the average capital gain, or increase in median house value, Minyip,3392 has racked up an average of -10.86% over the period. This ranks it number 3150th in the whole country for real estate investors looking at median house price increases.
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Sellers need to offer significant discounts
Median house price: $84,500
Three-year growth: -10.1%
Rental yield: 8.9%
Regarded as the “heart of the Wheatbelt,” the suburb of Minyip in the Wimmera region is one of the centres of grain farming in Australia.
House prices in this suburb have been dropping since January 2016, with the median value plummeting all the way to $84,500. While houses sell in an average of less than 60 days, sellers have to offer massive discounts of 12.7% on average.
There are many examples of historical architecture in this suburb, including the Minyip Memorial Hall, old silos, the local railway station and various hotels. The foundation stone of Minyip Hospital is displayed in the town square along with a unique clock. The Lions Children’s Playground is another must-see for history buffs. There are several shops and dining options for residents and visitors alike, and there are also schools for children.