VIC has seen average median house prices change by -1.69% which means that Bundoora, 3083 has not done well for property investors by showing a capital gain of -9.13% over the last year
Taking the average capital gain, or increase in median house value, Bundoora,3083 has racked up an average of -9.13% over the period. This ranks it number 2018th in the whole country for real estate investors looking at median house price increases.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Bundoora, 3083. Typically our figures indicate that -5.80% is being offered, which puts this VIC suburb at 2165th most discounted overall in Australia.
Often selling an investment property can take time, and in Bundoora the average time real estate has been on the market is 70.75 days.
Bundoora, 3083’s gross rental yield is 3.28%
With a capital gain of -6.25% for the last 12 months, Bundoora, 3083 has performed for property investments than its average annual 0.59% property growth over the last 5 years.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Bundoora has fallen somewhat when compared to the 5 year average annual rate.
At number 99th of VIC’s most discounted properties, Bundoora is in the bottom 40% of the state/territory when listing in order of most discounted to least.
On average over the past year, suburb has had 6.25 sales per month, which equates to 75 per year.
Bundoora, 3083’s gross rental yield is 5.27%
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Apartment supply falls
Median unit price: $433,000
Stock on market: 0.7%
12-month growth: 9.6%
The large suburb of Bundoora, around 18km from Melbourne’s city centre, experienced an interesting year in terms of property supply, with unit stock falling while housing stick increased.
The number of units dropped from 80 to 62 between April 2017 and 2018, while that of houses went from 68 to 87. Even then, the apartment market continues to record growth, with values going up by nearly 10% in this period. The median price remains affordable at under $450,000, which could drive further interest.
Investors seeking a steady stream of potential tenants may find this suburb appealing, as campuses of La Trobe University and RMIT are situated here, as are many other primary and secondary schools, making it a popular suburb with student residents and families. The La Trobe University bus link also facilitates travel throughout Melbourne.