Investment property in Mooroolbark has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -10.14%
Over the longer term, Mooroolbark has seen property prices show investors a 11.76% return over the last 3 years. This is worse than over the last 12 months
Mooroolbark, 3138 is offering VIC ‘s 244th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this VIC.
With the median price for a house in Mooroolbark being $665000 and the advertised rent reaching $425 the gross rental yield for property investors calculates out to be 3.32%
If you compare the increase in value of investment property in Mooroolbark, 3138 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was -9.01%.
A 42.33% growth in median value for property investors in Mooroolbark,3138 puts this suburb at number 213th in terms of best performing suburbs in VIC
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.31% offered to property buyers. Sellers in Mooroolbark itself are offering an average vendor discount of -8.15% to real estate investors.
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Houses record brilliant performance
Median house price: $673,500
Three-year growth: 46.2%
Rental yield: 3.1%
In the last five years, Mooroolbark’s house market has experienced capital growth of more than 40%. Located 31km east of Melbourne, in the Shire of Yarra Ranges, Mooroolbark is an established family suburb where city life meets the bush. Originally a much larger suburb, encompassing Wonga Park and Chirnside Park, Mooroolbark is well serviced by trains and buses, and is a short drive along the Maroondah Highway from the picturesque Yarra Valley.
New townhouses are cropping up, in between older homes on large blocks, and the median house price is currently $673,500, up 14.5% over the past year. Mooroolbark is home to several excellent schools, both 5 and private, as well as the famous ‘Five Ways’ intersection, where three consecutive roundabouts connect five main roads. All the essential amenities can be found in the Brice Avenue shopping strip, while nearby Eastland Shopping Centre in Ringwood has several large department stores and speciality boutiques.