Property investors who have had real estate in Lucknow, 3875 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 34.94%
Vendor discounting in Lucknow is giving property investors an average Vendor Discount of around -2.49%. This puts suburb at number 623th in VIC when ranking the most discounted suburbs.
Often selling an investment property can take time, and in Lucknow the average time real estate has been on the market is 73.85 days.
Lucknow is 53th on a list of best yielding suburbs for rents in VIC with a 5.48% return
Situated in East Gippsland, the suburb of Lucknow boasts very low-priced housesFull summary
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Buyers on a budget look to rising suburb
Median house price: $240,000
Three-year growth: 3.4%
Rental yield: 6.7%
Situated in East Gippsland, the suburb of Lucknow boasts very low-priced houses.
Lucknow’s rise began only three years ago, but the increasing rates of growth indicate that this suburb has potential. Over the last 12 months leading up to November 2017, house prices went up by 7.1%, and this trend is set to continue based on the 11.6% hike recorded in the November 2017 quarter.
Even then, the median value remains under $250,000, which is ideal for buyers who are looking to save. The average rental yield is very high at 6.7%, which could appeal to investors seeking cash flow.
Lucknow sits on the Mitchell River, and provides easy access to the regional centre of Bairnsdale. Thus, schools and train transport are close by.Close