At number 264th in the list of Australian suburbs ordered by increase in median house value over the last year, Lucknow, 3875 is in the top 10% with a property value increase of 20.63% recorded in median house prices.
Over the longer term, Lucknow has seen property prices show investors a 23.91% return over the last 3 years. This is worse than over the last 12 months
Sellers are offering property buyers an average discount of -2.88% to buyers in Lucknow at the moment, which is less than average for the rest of VIC.
Property investors should expect to get $285 weekly from the median priced house in this suburb.
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