Over the last year, property investments in Lucknow, 3875 have given investors a capital gain of 10.71%. This compares very favourably with the -0.15% for VIC as a whole.
Comparing Lucknow,3875 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Sellers are offering property buyers an average discount of -3.22% to buyers in Lucknow at the moment, which is less than average for the rest of VIC.
On average over the past year, suburb has had 1.67 sales per month, which equates to 20 per year.
Lucknow, 3875’s gross rental yield is 5.03%
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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.