Heathmont has had a very poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -5.91% to date .
Taking the average capital gain, or increase in median house value, Heathmont,3135 has racked up an average of -5.91% over the period. This ranks it number 1776th in the whole country for real estate investors looking at median house price increases.
LACK OF BUYER INTEREST may well be the reason that Heathmont is offering property investors an average of -6.51. This rate of discount on properties puts Suburb at number 68th in terms of most discounted suburbs in VIC
Often selling an investment property can take time, and in Heathmont the average time real estate has been on the market is 44.9444 days.
Heathmont is 515th on a list of best yielding suburbs for rents in VIC with a 2.67% return
Property value increases in Heathmont have tracked lower than the VIC average of 6.11% over the last 12 months.
Comparing Heathmont,3135 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
The most recent median price for Heathmont is $651000, with sellers offering an average of -6.22% off the asking price.
With the median price for a house in Heathmont being $651000 and the advertised rent reaching $390 the gross rental yield for property investors calculates out to be 3.12%
Information supplied by:
Heathmont, VIC – Prices drop in the last year
Median unit price: $607,500
Three-year growth: 8.5%
Rental yield: 3.4%
Roughly 30 minutes’ drive from the Melbourne CBD is the suburb of Heathmont, which appeals to residents with its quiet and safe environment and village vibe.
The suburb is served by the Heathmont Shopping Centre, which has modern cafes like The Village Food Store and Chapter Too. There is also an IGA supermarket and takeaways. The shopping centre is situated just across the Heathmont railway station, and offers a view of the Dandenong Ranges. Schools in the suburb include Heathmont East Primary School, Great Ryrie Primary School and Heathmont College. Residents can relax in one of the suburb’s many parks.
In the year to July 2019, unit prices plummeted by nearly 15%, bringing the median to $607,500.