Investment property in Kyneton has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 6.55%
When looking at the potential capital gains offered to property investors over the last 3 years, Kyneton comes in at number 103th in VIC.
Property investors looking for a bargain in Kyneton should be aiming for at least -6.31% off the asking price, which is the average vendor discount being achieved at the moment.
A $440 per week rent on the median house gives suburb investors a gross yield of circa 3.75%, without taking into account capital value appreciation, which has been averaging out at 8.20%.
With a capital gain of 1.49% for the last 12 months, Kyneton, 3444 has performed for property investments than its average annual 7.22% property growth over the last 5 years.
Over the longer term, Kyneton has seen property prices show investors a 16.81% return over the last 3 years. This is worse than over the last 12 months
Renters in Suburb are facing rents around $19240 per annum or $370 every week.
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Historic suburb has strong growth potential
Median unit price: $399,000
Three-year growth: 22.8%
Rental yield: 4.3%
The Macedon Ranges suburb of Kyneton was named for the village of Kineton in Warwickshire. This area also once served as a supply centre for gold rushers in Castlemaine and Bendigo – in fact, Piper Street, the oldest main street in this suburb, contains buildings constructed from back in the 1840s.
As a midway point between Melbourne and Bendigo, Kyneton is popular with tourists who visit for the incredible views. The suburb is alive with shops, galleries and a museum. Some of the oldest churches in Victoria can be found here – an impressive collection of bluestone structures.
With a median value of less than $400,000, Kyneton offers low=priced apartment living while having strong growth potential. The average annual growth rate for this suburb comes in at a high 7.3%, and prices went up by 3.9% in the year to January 2019.