Investment property in Hoppers Crossing has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -3.64%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Hoppers Crossing has increased when compared to the 5 year average annual rate.
Hoppers Crossing, 3029 is offering VIC ‘s 169th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this VIC.
At number 1461 in a list of fastest selling suburbs, Hoppers Crossing is in the TOP 40% of suburbs in Australia with an average of days on market 70.5608 for properties listed there.
Hoppers Crossing is 277th on a list of best yielding suburbs for rents in VIC with a 3.58% return
Property value increases in Hoppers Crossing have tracked close to the VIC average of 6.11% over the last 12 months.
Hoppers Crossing,3029 has offered an average of 5.26% return per annum in house price rises to property investors over the last three years.
At number 43th of VIC’s most discounted properties, Hoppers Crossing is in the bottom 20% of the state/territory when listing in order of most discounted to least.
A $322.5 per week rent on the median house gives suburb investors a gross yield of circa 4.19%, without taking into account capital value appreciation, which has been averaging out at 5.29%.
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Amenities heighten appeal
Median unit price: $330,501
Three-year growth: 24.7%
Rental yield: 4.7%
Named because Hoppers Lane runs through Werribee and the crossing of the Geelong-Melbourne railway, the suburb of Hoppers Crossing has strong appeal given its reasonable apartment prices and considerable rental returns.
Consistent demand has allowed the suburb to flourish over the recent five-year period, and it experienced a 14% increase in unit values through the past 12 months. Coupled with an average yield of 4.7% and the fact that Hoppers Crossing is less than an hour’s drive from the Melbourne CBD, investors could have a gem on their hands here.
The suburb is dotted with various shopping centres, to the convenience of residents. There are also numerous playgrounds and parks for recreation. Hoppers Crossing is also home to schools of all levels, including Victoria University.