VIC has seen average median house prices change by -1.69% which means that Mordialloc, 3195 has not done well for property investors by showing a capital gain of -12.68% over the last year
Taking the average capital gain, or increase in median house value, Mordialloc,3195 has racked up an average of -12.68% over the period. This ranks it number 2700th in the whole country for real estate investors looking at median house price increases.
LACK OF BUYER INTEREST may well be the reason that Mordialloc is offering property investors an average of -6.82. This rate of discount on properties puts Suburb at number 240th in terms of most discounted suburbs in VIC
On average over the past year, suburb has had 7.33 sales per month, which equates to 88 per year.
Using the current median advertised rental of $550 and the average annual increase in value of a median property of 5.82%, investors should hope to achieve an overall return of 3.20%
Mordialloc is an average performer in VIC when comparing median price capital growth over the last year. Mordialloc gave property investors a average capital gain figure when compared to the rest of the state, with 1.14%.
Mordialloc,3195 was ranked 366 in Australia by increase in median property value over the quarter.
Our latest figures would indicate that property sellers in Mordialloc are currently offering property investors an average price cut of -5.18% below the asking price at the moment.
The VIC suburb of Mordialloc, 3195 is in the Kingston (C) (Vic.) local government area.
Information supplied by:
Creekside suburb rides momentum
Median house price: $977,500
Three-year growth: 42.7%
Rental yield: 2.8%
Known colloquially as Mordi, the suburb of Mordialloc is known for its production of traditional wooden boats.
Values have steadily been increasing over the past five years in the house market. Despite the high prices, vacancies are tight in this suburb, and the average vendor discount rate is low at just 3.8%.
Mordialloc Creek is the suburb’s most popular feature, with walking trails running along its banks. There is also a beach stretching from the creek to the Mentone bluffs. Aside from its natural attractions, Mordialloc is also home to several schools, including Mordialloc College, Mordialloc Beach Primary School and St Brigids Mordialloc.
Commuters can get around by train through the local station, which is part of the Frankston railway line.