Patterson Lakes has had a quite poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of 4.80% to date .
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Patterson Lakes has increased when compared to the 5 year average annual rate.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Patterson Lakes, 3197. Typically our figures indicate that -3.91% is being offered, which puts this VIC suburb at 3161th most discounted overall in Australia.
Often selling an investment property can take time, and in Patterson Lakes the average time real estate has been on the market is 35.69 days.
Patterson Lakes, 3197’s gross rental yield is 3.08%
VIC has seen average median house prices change by 8.22% which means that Patterson Lakes, 3197 has done well for property investors by showing a capital gain of 13.90% over the last year
If we look at median property appreciation over just the last three months, Patterson Lakes has given property investors a paper return of 1.43%. This puts Suburb as 194 on a list of fastest fasting appreciating suburbs in VIC
Property investors looking for a bargain in Patterson Lakes should be aiming for at least -3.55% off the asking price, which is the average vendor discount being achieved at the moment.
Residents and property investors in Patterson Lakes have been waiting around 39.8 days to sell a property.