If you compare the increase in value of investment property in Murrumbeena, 3163 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this VIC suburb was 6.23%.
If we look at median property appreciation over just the last three months, Murrumbeena has given property investors a paper return of -0.18%. This puts Suburb as 549 on a list of fastest fasting appreciating suburbs in VIC
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.04% offered to property buyers. Sellers in Murrumbeena itself are offering an average vendor discount of -0.71% to real estate investors.
A $550 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 7.99%.
Property value increases in Murrumbeena have tracked close to the VIC average of 8.36% over the last 12 months.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Murrumbeena has increased when compared to the 5 year average annual rate.
At number 144th of VIC’s most discounted properties, Murrumbeena is in the middle of the state/territory when listing in order of most discounted to least.
Property investors should expect to get $350 weekly from the median priced house in this suburb.