Investment property in Mickleham has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -1.70%
Mickleham,3064 has offered an average of -1.70% return per annum in house price rises to property investors over the last three years.
Sellers are offering property buyers an average discount of -10.44% to buyers in Mickleham at the moment, which is less than average for the rest of VIC.
In the last year 158 properties changed hands in Mickleham, which puts it as the 133th most active market in VIC when comparing the number of sales per suburb.
A $410 per week rent on the median house gives suburb investors a gross yield of circa 4.21%, without taking into account capital value appreciation, which has been averaging out at 21.65%.
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Just beyond the Urban Growth Boundary of Melbourne sits the suburb of Mickleham. The decline in the housing market over the past five years has pushed its median price to just over $400,000, making this suburb an affordable pocket.
Rental returns come in at an average of 4.7%; thus, investors will be getting bang for their buck. The suburb is also about 10 minutes away from the hub of amenities in nearby Craigieburn, meaning residents won’t miss out on conveniences such as shopping, sports facilities, schools and dining options. Craigieburn also offers access to public transport, including several bus routes and railway services.
The Melbourne CBD is roughly a 45-minute drive away.