Over the last year, property investments in Birchip, 3483 have given investors a capital gain of -20.83%. This compares very badly with the -1.69% for VIC as a whole.
While Birchip,3483 ranked number 707th in VIC for increase in median house value (annualised) increase, it is ranked 671th over the last 5 years.
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Rural suburb sees some growth
Median house price: $92,500
Three-year growth: -23.7%
Rental yield: 9.3%
Sitting on the Sunraysia Highway in Victoria’s Mallee district, Birchip is a small rural suburb centred on agriculture.
Some of the crops grown in this area include wheat, barley and canola. The most common livestock are sheep and pigs. The Birchip Cropping Group makes its base here – this non-profit research organisation is run by farmers from the Wimmera-Mallee region. The Birchip Community Leisure Centre houses several sports facilities, such as Australian football, netball and golf. Birchip is also linked to several roads, including the Calder Highway. There is also an aerodrome for light aircraft.
Birchip houses are very affordable at a median price of under $100,000. The suburb has seen values drop consistently since 2014, but some recovery was reported when values went up by 2.8% in the 12 months to January 2019.