Bundoora is an average performer in VIC when comparing median price capital growth over the last year. Bundoora gave property investors a average capital gain figure when compared to the rest of the state, with -4.11%.
Taking the average capital gain, or increase in median house value, Bundoora,3083 has racked up an average of -4.11% over the period. This ranks it number 1911th in the whole country for real estate investors looking at median house price increases.
Bundoora, 3083 is offering VIC ‘s 450th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 30% of discounts offered by this VIC.
Often selling an investment property can take time, and in Bundoora the average time real estate has been on the market is 87.91 days.
Bundoora is in the bottom 20% in VIC when comparing median price capital growth over the last year. Bundoora gave property investors a dismal capital gain figure when compared to the rest of the state, with -6.29%.
When looking at the potential capital gains offered to property investors over the last 3 years, Bundoora comes in at number 291th in VIC.
Property investors looking for a bargain in Bundoora should be aiming for at least -6.16% off the asking price, which is the average vendor discount being achieved at the moment.
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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.