Investment property in Molendinar has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 2.15%
When looking at the potential capital gains offered to property investors over the last 3 years, Molendinar comes in at number 546th in QLD.
Vendor discounting in Molendinar is giving property investors an average Vendor Discount of around -6.48%. This puts suburb at number 352th in QLD when ranking the most discounted suburbs.
On average over the past year, suburb has had 6.58 sales per month, which equates to 79 per year.
With the median price for a house in Molendinar being $594500 and the advertised rent reaching $592.5 the gross rental yield for property investors calculates out to be 5.18%
Giving property investors a an average capital gain of -0.83% for the last year, Molendinar, 4214 is the 675th highest performer in Australia in this respect.
Molendinar,4214 has offered an average of -0.83% return per annum in house price rises to property investors over the last three years.
LACK OF BUYER INTEREST may well be the reason that Molendinar is offering property investors an average of -6.43. This rate of discount on properties puts Suburb at number 196th in terms of most discounted suburbs in QLD
Information supplied by:
High yield and affordability spur interest
Median unit price: $310,000
Three-year growth: 8.8%
Rental yield: 7.0%
Nicknamed “Silver Bridle,” the suburb of Molendinar on the Gold Coast is struggling to sustain growth in its unit market.
Molendinar recorded some growth over the most recent five-year period, with the price hike peaking at 8.8% three years previously. However, values fell again by 2.2% in the 12 months leading up to November 2017.
Nonetheless, the affordability of apartments here (at a median price of $310,000) is coupled with a very high average rental yield of 7%. Thus, demand is enough that vendors can sell properties at an average discount rate of just 3.7%.
The suburb is in close proximity to Griffith Hospital and Griffith University. It is also near shops like a supermarket and Bunnings. The beach is just about 15 minutes away.