VIC has seen average median house prices change by -1.69% which means that Chadstone, 3148 has not done well for property investors by showing a capital gain of -20.04% over the last year
When looking at the potential capital gains offered to property investors over the last 3 years, Chadstone comes in at number 640th in VIC.
LACK OF BUYER INTEREST may well be the reason that Chadstone is offering property investors an average of -6.82. This rate of discount on properties puts Suburb at number 329th in terms of most discounted suburbs in VIC
Property investors should expect to get $460 weekly from the median priced house in this suburb.
At number 995th in the list of Australian suburbs ordered by increase in median house value over the last year, Chadstone, 3148 is in the BOTTOM 40% with a property value increase of -5.83% recorded in median house prices.
Chadstone,3148 was ranked 336 in Australia by increase in median property value over the quarter.
LACK OF BUYER INTEREST may well be the reason that Chadstone is offering property investors an average of -6.24. This rate of discount on properties puts Suburb at number 18th in terms of most discounted suburbs in VIC
Residents and property investors in Chadstone have been waiting around 73.9524 days to sell a property.
A $510 per week rent on the median house gives suburb investors a gross yield of circa 3.82%, without taking into account capital value appreciation, which has been averaging out at 5.62%.
Information supplied by:
Discount rates low even with high unit prices
Median unit price: $670,000
Three-year growth: 26.18%
Rental yield: 3.57%
Even with its small size, the suburb of Chadstone is a powerhouse. Its unit market has been performing admirably in recent years, with prices rising by nearly 30% over the past 12 months leading up to May 2017.
Returns for investors are reasonable at 3.57%, while sellers can certainly get a good deal since the average discount rate offered is only 2.51%. This low rate signifies the strong demand for apartments in this area, since values are steep at over $650,000.
Chadstone is very well stocked, being home to the Waverley Basketball Centre, a campus of Holmesglen Institute of TAFE and Chadstone Shopping Centre. Scotchmans Creek borders Chadstone in the south, and the Monash freeway passes through the suburb as well.