If you compare the increase in value of investment property in Carrum, 3197 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was -6.06%.
A 39.95% growth in median value for property investors in Carrum,3197 puts this suburb at number 107th in terms of best performing suburbs in VIC
LACK OF BUYER INTEREST may well be the reason that Carrum is offering property investors an average of -6.90. This rate of discount on properties puts Suburb at number 232th in terms of most discounted suburbs in VIC
On average over the past year, suburb has had 4.58 sales per month, which equates to 55 per year.
Carrum is 462th on a list of best yielding suburbs for rents in VIC with a 3.02% return
Carrum is an average performer in VIC when comparing median price capital growth over the last year. Carrum gave property investors a good capital gain figure when compared to the rest of the state, with 2.58%.
When looking at the potential capital gains offered to property investors over the last 3 years, Carrum comes in at number 36th in VIC.
Property investors looking for a bargain in Carrum should be aiming for at least -6.39% off the asking price, which is the average vendor discount being achieved at the moment.
At number 440 in a list of fastest selling suburbs, Carrum is in the TOP 40% of suburbs in Australia with an average of days on market 70.6 for properties listed there.
Using the current median advertised rental of $450 and the average annual increase in value of a median property of 7.03%, investors should hope to achieve an overall return of 3.47%