Plumpton has had a A very good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 21.43% to date .
Across a shorter period, Plumpton, 3335 has seen a median price increase of 8.18% over the last quarter.
Advertised rents are around the $450 mark per week – giving a return of 3.93% based on the median price in Suburb
Information supplied by:
Median house price: $495,000
Stock on market: 168.4%
12-month growth: 3.9%
Situated 30km northwest of the Melbourne CBD, the suburb of Plumpton saw housing stock skyrocket over the past 12 months from 79 listings to over 200.
In the most recent three-year period, prices in this area picked up – while the growth has been gentle, it has been steady. Though supply levels have increased, Plumpton is expected to continue to hold capital growth potential. Yields are also quite strong at an average of 4.6%, which although is not considered a “high yield”, is still quite strong for a capital city location.
Plumpton is less than an hour from Melbourne via the Melton Highway, and with the median house value at less than $500,000, it could be a good option for residents looking for a home reasonably close to the capital.