Property investors who have had real estate in Maribyrnong, 3032 should be unhappy with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -7.46%
Across a shorter period, Maribyrnong, 3032 has seen a median price increase of -5.93% over the last quarter.
At number 261th of VIC’s most discounted properties, Maribyrnong is in the middle of the state/territory when listing in order of most discounted to least.
Residents and property investors in Maribyrnong have been waiting around 52.96 days to sell a property.
A $510 per week rent on the median house gives suburb investors a gross yield of circa 2.83%, without taking into account capital value appreciation, which has been averaging out at 5.79%.
With a capital gain of -3.70% for the last 12 months, Maribyrnong, 3032 has performed for property investments than its average annual 2.73% property growth over the last 5 years.
If we look at median property appreciation over just the last three months, Maribyrnong has given property investors a paper return of -3.51%. This puts Suburb as 280 on a list of fastest fasting appreciating suburbs in VIC
Our latest figures would indicate that property sellers in Maribyrnong are currently offering property investors an average price cut of -6.38% below the asking price at the moment.
Using the current median advertised rental of $410 and the average annual increase in value of a median property of 2.73%, investors should hope to achieve an overall return of 4.56%
Just 8km to Melbourne's north-west on the banks of the Maribyrnong River, this suburb is characterised by parklands and a leafy outlook. it is known for its multicultural demography and diverse range of shops and restaurants.
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Three-bedroom homes that are close to parks and public transport are the most sought after in Maribyrnong; especially those with lock-up garages for close to $600,000.
Large, established homes on big land parcels are tightly held and hard to get a piece of, but new estates have been popping up recently, making double-storey homes quite accessible.
A massive development at Highpoint Shopping Centre is adding value and employment to the suburb and will feature more than 400 stores.
Other notable amenities are the aquatic centre, a college and three primary schools.Full summary
Selling points: Maribyrnong is surrounded by parklands and the Maribyrnong River; along with having a multicultural diversity of shops and restaurants. Don’t forget the bonus of being situated within 8km of the CBD.
Most sought after properties: Three-bedroom homes with a double lock-up garage in the early to mid $600,000 range, close to transport, and parklands.
Most common properties: Maribyrnong can be characterised into three different parts. The old established pocket (tightly held), which comprises both weather board and brick homes on large parcels of land; then the three different estates of double storey homes, such as Waterford Green, Riverbank Estate, and the most popular Edgewater.
Top amenities: Highpoint Shopping Centre (one of the biggest shopping malls in Victoria), which is being upgraded to comprise more car parking and a new set of trendy shops and cafes. The Maribyrnong Aquatic centre, Maribyrnong College and three primary schools are also close at hand.
Local industry and business: Highpoint Shopping Centre features more than 400 stores covering all major brands, along with a homemaker centre.
Recent changes: The $300 million development at Highpoint Shopping Centre will add an additional 30,000 square metres, making it one of the largest shopping centres in Australia on completion. The addition of the Edgewater Estate drove the prices of Maribyrnong upwards, and most of the expensive homes sold in Maribyrnong over the last three years have been from Edgewater.
Best streets: The best streets to buy in are the ones close to St Margaret’s Primary and Maribyrnong College. These include The Esplanade, Macedon St, Pridham St, and Kellaway Street.
Public transport: Tram 82 leads to Footscray train station and Moonee Ponds train station. Tram 57 leads to Elizabeth Street in the City. There are also bus routes that lead to the same destinations.
Main arteries: You have main roads such as Ballarat Rd and Dynon Rd that get you access to the Docklands and the Melbourne CBD.