If you compare the increase in value of investment property in Edenhope, 3318 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was -7.51%.
Taking the average capital gain, or increase in median house value, Edenhope,3318 has racked up an average of -7.51% over the period. This ranks it number 3168th in the whole country for real estate investors looking at median house price increases.
On average over the past year, suburb has had 1.42 sales per month, which equates to 17 per year.
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Record affordability appeals to house buyers
Median house price: $160,000
Three-year growth: 4.9%
Rental yield: 6.5%
Located near the Winmera Highway, Edenhope is one of the most affordable housing markets in Victoria, with the median house value coming in at $160,000.
Despite the low prices, the suburb has been growing strongly in the last five years, with values increasing by 11.7% over the 12 months leading up to November 2017. With the accompanying high average rental yield of 6.5%, there will be competition for such low-priced, high-return properties.
Edenhope is on the shores of Lake Wallace, a well-known spot for fishing and water sports, and the Back Swamp. There are several shops and dining stops around given the presence of tourists here for the nature, as well as a hospital. Edenhope is also the administrative centre of West Wimmera.