Property investors who have had real estate in Burnside, 3023 should be ok 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 4.10%
The five-year average increase in median property values for Burnside,3023 has given property investors a potential capital gain of 52.46% across each of those five years.
Property buyers and investors in Burnside 3023 should be seeing an average reduction in asking price of around -1.44% . This means that Burnside is holding prices well when compared to other suburbs in VIC.
At number 151 in a list of fastest selling suburbs, Burnside is in the TOP 10% of suburbs in Australia with an average of days on market 32.6 for properties listed there.
Advertised rents are around the $400 mark per week – giving a return of 3.28% based on the median price in Suburb
Information supplied by:
Stunning level of house supply growth
Median house price: $595,000
Stock on market: 311.1%
12-month growth: 12.3%
Home to the beautiful natural watercourse Kororoit Creek, Burnside is a Melbourne suburb that reported a whopping 311% increase in housing supply in the period of March 2017-2018.
The number of houses on the market increased four-fold, from 9 to 37, across this same period. This could be a response to the consistent demand shown in this suburb, which recorded nearly 50% growth in 2015. This growth has been maintained in the three months to March 2018. In addition, houses remain on sale for an average of just 22 days before being snapped up.
The upper end of Kororoit Creek runs beside Burnside, and brings in visitors curious about the creek’s diverse population of reptiles and amphibians.