Over the last year, property investments in Lucknow, 3875 have given investors a capital gain of 7.18%. This compares favourably with the 3.76% for VIC as a whole.
Lucknow,3875 was ranked 3047 in Australia by increase in median property value over the quarter.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.61% offered to property buyers. Sellers in Lucknow itself are offering an average vendor discount of -3.01% to real estate investors.
In the last year 18 properties changed hands in Lucknow, which puts it as the 622th most active market in VIC when comparing the number of sales per suburb.
Property investors should expect to get $285 weekly from the median priced house in this suburb.
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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.