Property investors who have had real estate in Glen Waverley, 3150 should be relatively pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 9.71%
When looking at the potential capital gains offered to property investors over the last 3 years, Glen Waverley comes in at number 600th in VIC.
State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.39% offered to property buyers. Sellers in Glen Waverley itself are offering an average vendor discount of -6.05% to real estate investors.
In the last year 374 properties changed hands in Glen Waverley, which puts it as the 16th most active market in VIC when comparing the number of sales per suburb.
A $520 per week rent on the median house gives suburb investors a gross yield of circa 2.03%, without taking into account capital value appreciation, which has been averaging out at 6.64%.
With a capital gain of 2.04% for the last 12 months, Glen Waverley, 3150 has performed for property investments than its average annual 6.56% property growth over the last 5 years.
While Glen Waverley,3150 ranked number 323th in VIC for increase in median house value (annualised) increase, it is ranked 310th over the last 5 years.
Property buyers and investors in Glen Waverley 3150 should be seeing an average reduction in asking price of around -4.62% . This means that Glen Waverley is holding prices well when compared to other suburbs in VIC.
Property investors should expect to get $500 weekly from the median priced house in this suburb.