Property value increases in Lara have tracked just higher than the VIC average of 2.87% over the last 12 months.
If we look at median property appreciation over just the last three months, Lara has given property investors a paper return of 1.90%. This puts Suburb as 295 on a list of fastest fasting appreciating suburbs in VIC
Sellers are offering property buyers an average discount of -5.43% to buyers in Lara at the moment, which is less than average for the rest of VIC.
Advertised rents are around the $430 mark per week – giving a return of 4.18% based on the median price in Suburb
Investment property in Lara has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 8.29%
The five-year average increase in median property values for Lara,3212 has given property investors a potential capital gain of 31.83% across each of those five years.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.98% offered to property buyers. Sellers in Lara itself are offering an average vendor discount of -5.35% to real estate investors.
Often selling an investment property can take time, and in Lara the average time real estate has been on the market is 61.2 days.
Using the current median advertised rental of $345 and the average annual increase in value of a median property of 4.26%, investors should hope to achieve an overall return of 4.73%