VIC has seen average median house prices change by 4.75% which means that Carnegie, 3163 has done well for property investors by showing a capital gain of -11.60% over the last year
Taking the average capital gain, or increase in median house value, Carnegie,3163 has racked up an average of -11.60% over the period. This ranks it number 2950th in the whole country for real estate investors looking at median house price increases.
Property investors looking for a bargain in Carnegie should be aiming for at least -4.79% off the asking price, which is the average vendor discount being achieved at the moment.
Residents and property investors in Carnegie have been waiting around 72 days to sell a property.
Property value increases in Carnegie have tracked lower than the VIC average of 3.42% over the last 12 months.
A 14.29% growth in median value for property investors in Carnegie,3163 puts this suburb at number 304th in terms of best performing suburbs in VIC
Carnegie3163 is located in VIC which offers an average discount of -5.45% to property investors. Carnegie itself is showing figures that indicate -3.94% is the average achievable by property buyers investing in the suburb.
A $395 per week rent on the median house gives suburb investors a gross yield of circa 3.67%, without taking into account capital value appreciation, which has been averaging out at 4.17%.
Situated 12km from the Melbourne CBD, Carnegie is an established suburb where vacancy rates have tightened from 1.9% to 1.5% in the 12 months leading up to March 2018Full summary
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Vacancies are squeezed further
Median unit price: $599,000
Vacancy rate: 1.5%
Three-year growth: 12.0%
Situated 12km from the Melbourne CBD, Carnegie is an established suburb where vacancy rates have tightened from 1.9% to 1.5% in the 12 months leading up to March 2018.
The unit market in this area has been performing admirably since 2013, with an average annual growth rate of 6.2%. The median price comes in at just under $600,000, and the average rental rate comes in at $400 per week.
Initially christened as Rosstown, Carnegie is home to a bustling commercial scene. The shopping district is centred on Koornang Road and Dandenong Road. Koornang Park and the Carnegie Swim Centre are located here as well, along with Carnegie Primary School. Residents are served by the Cranbourne/Pakemham rail line, several bus routes and the Carnegie tram route.Close