Property investors who have had real estate in Cockatoo, 3781 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 25.70%
Across a shorter period, Cockatoo, 3781 has seen a median price increase of 2.90% over the last quarter.
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.04% offered to property buyers. Sellers in Cockatoo itself are offering an average vendor discount of -3.44% to real estate investors.
House prices in this suburb have been increasing steadily over the past five years, with the April 2017 quarter alone recording a 10% rise. Nonetheless, Cockatoo’s distance from the Melbourne CBD makes it so that even significant jumps in price keep the median value below $450,000.Full summary
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Cockatoo, VIC – Community makes this mountainside suburb
Median house price: $440,000
Three-year growth: 20.55%
Rental yield: 4.14%
Nestled in the Dandenong Ranges between the suburbs of Emerald and Gembrook, Cockatoo is quickly growing as a residential town.
House prices have been increasing steadily over the past five years, with the April 2017 quarter alone recording a 10% rise. Nonetheless, Cockatoo’s distance from the Melbourne CBD makes it so that even significant jumps in price keep the median value below $450,000.
Due to growing demand, vendors are unloading houses at an average discount rate of just 3.7%. Some of this demand is likely coming from investors, who are here for the suburb’s rental yield of 4%.
Cockatoo’s appeal lies in its well-served community. Residents have access to a supermarket, cafes and restaurants along McBride Street, through which the Puffing Billy train passes. The local sports complex is well equipped with courts and an indoor stadium. Naturally, its scenic location is maximised – Cockatoo continues to be a destination for bushwalkers.Close