Giving property investors a an unimpressive capital gain of -7.41% for the last year, Carnegie, 3163 is the 3254th highest performer in Australia in this respect.
A 32.70% growth in median value for property investors in Carnegie,3163 puts this suburb at number 131th in terms of best performing suburbs in VIC
Carnegie3163 is located in VIC which offers an average discount of -6.90% to property investors. Carnegie itself is showing figures that indicate -5.42% is the average achievable by property buyers investing in the suburb.
At number 1056 in a list of fastest selling suburbs, Carnegie is in the TOP 30% of suburbs in Australia with an average of days on market 66.0857 for properties listed there.
With the median price for a house in Carnegie being $1250000 and the advertised rent reaching $595 the gross rental yield for property investors calculates out to be 2.48%
VIC has seen average median house prices change by 3.98% which means that Carnegie, 3163 has done well for property investors by showing a capital gain of 14.49% over the last year
Over the longer term, Carnegie has seen property prices show investors a 19.26% return over the last 3 years. This is worse than over the last 12 months
The most recent median price for Carnegie is $644000, with sellers offering an average of -4.77% off the asking price.
On average over the past year, suburb has had 13.50 sales per month, which equates to 162 per year.
Advertised rents are around the $425 mark per week – giving a return of 3.43% based on the median price in Suburb
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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.