If you compare the increase in value of investment property in Mortlake, 3272 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this VIC suburb was 4.88%.
If we look at median property appreciation over just the last three months, Mortlake has given property investors a paper return of 2.97%. This puts Suburb as 173 on a list of fastest fasting appreciating suburbs in VIC
Mortlake3272 is located in VIC which offers an average discount of -4.39% to property investors. Mortlake itself is showing figures that indicate -4.07% is the average achievable by property buyers investing in the suburb.
Often selling an investment property can take time, and in Mortlake the average time real estate has been on the market is 99.4 days.
Using the current median advertised rental of $320 and the average annual increase in value of a median property of 1.65%, investors should hope to achieve an overall return of 9.79%
Information supplied by:
House market experiences gentle growth
Median house price: $165,000
Three-year growth: 17.9%
Rental yield: 6.9%
With a rather exciting location at the foot of dormant volcano Mount Shadwell, the suburb of Mortlake is a remarkable geological site that has an abundance of the green rock peridot, also known as olivine.
Although Mount Shadwell last erupted a long time ago, Mortlake continues to capitalise on its presence by allowing visitors to fossick for olivine at the volcano’s quarry and to scavenge for “volcano bombs” – large, egg-shaped rocks ejected during eruption and containing traces of olivine. Mortlake is also known for its heritage trails, which highlight the 1850’s-era bluestone buildings in town. There are many shops and dining options as well.
Given the very low median value for houses, some may be surprised to find that Mortlake has recorded steady price increases since 2013. It is not a massive grower, but it is definitely one to look at for long-term investment.