Property value increases in Gowanbrae have tracked just lower than the VIC average of 2.87% over the last 12 months.
Gowanbrae,3043 was ranked 3523 in Australia by increase in median property value over the quarter.
With the median price for a house in Gowanbrae being $705000 and the advertised rent reaching $465 the gross rental yield for property investors calculates out to be 3.43%
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Young suburb is a hot spot
Median house price: $765,500
Three-year growth: 37.3%
Rental yield: 3.1%
Situated 13km from the Melbourne CBD, the suburb of Gowanbrae is performing well, maintaining a five-year positive growth streak.
House prices increased by 23.7% in the 12 months leading up to February 2018, and this positivity shows no signs of slowing. Houses also spend an average of just 44 days on the market at an average discount rate of 3.9%. This shows that Gowanbrae has a lot of investment potential especially in the face of an anticipated slowdown in Melbourne.
The newest suburb in Moreland City, Gowanbrae is highly accessible as it is bordered by the Western Ring Road and the Tullamarine Freeway. Moonee Ponds Creek is situated east of the suburb and serves as a recreation spot for residents as it facilitates cycling and picnicking.