With a capital gain of -10.45% for the last 12 months, Briar Hill, 3088 has performed for property investments than its average annual 6.87% property growth over the last 5 years.
Taking the average capital gain, or increase in median house value, Briar Hill,3088 has racked up an average of -10.45% over the period. This ranks it number 1819th in the whole country for real estate investors looking at median house price increases.
Often selling an investment property can take time, and in Briar Hill the average time real estate has been on the market is 49.3333 days.
Briar Hill, 3088’s gross rental yield is 3.10%
Briar Hill is in the bottom 30% in VIC when comparing median price capital growth over the last year. Briar Hill gave property investors a disappointing capital gain figure when compared to the rest of the state, with -7.46%.
Briar Hill,3088 was ranked 758 in Australia by increase in median property value over the quarter.
Advertised rents are around the $420 mark per week – giving a return of 3.52% based on the median price in Suburb
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Suburb clings to positive growth
Median house price: $851,500
Three-year growth: 25.0%
Rental yield: 2.8%
The suburb of Briar Hill is part of the Banyule City LGA, located around 18km from the Melbourne CBD. It is favoured by residents for its community-oriented spirit and convenient location.
With its location, Briar Hill boasts a hefty price tag that comes to a median of just over $850,000. While the suburb has held on to some positivity, the negative growth recorded over the three months to February 2019 could indicate the start of a new trend.
Families have their pick of childcare and schools, and the suburb is festooned with greenery and open spaces. Shopping districts are in the vicinity, as are sports facilities. Briar Hill is surrounded by suburbs like Montmorency, Eltham and Greensborough, which provide various amenities to Briar Hill’s residents. The suburb also offers a scenic view of the city, and commuters are well-catered to by bus services, particularly the Smart Bus.