At number 2037th in the list of Australian suburbs ordered by increase in median house value over the last year, Carrum, 3197 is in the top half with a property value increase of 3.37% recorded in median house prices.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Carrum has increased when compared to the 5 year average annual rate.
LACK OF BUYER INTEREST may well be the reason that Carrum is offering property investors an average of -5.39. This rate of discount on properties puts Suburb at number 210th in terms of most discounted suburbs in VIC
A $410 per week rent on the median house gives suburb investors a gross yield of circa 2.58%, without taking into account capital value appreciation, which has been averaging out at 6.41%.
Property value increases in Carrum have tracked just higher than the VIC average of 6.03% over the last 12 months.
While Carrum,3197 ranked number 212th in VIC for increase in median house value (annualised) increase, it is ranked 49th over the last 5 years.
Property buyers and investors in Carrum 3197 should be seeing an average reduction in asking price of around -3.67% . This means that Carrum is holding prices well when compared to other suburbs in VIC.