Giving property investors a a poor capital gain of -5.83% for the last year, Lake Gardens, 3355 is the 3412th highest performer in Australia in this respect.
Taking the average capital gain, or increase in median house value, Lake Gardens,3355 has racked up an average of -5.83% over the period. This ranks it number 315th in the whole country for real estate investors looking at median house price increases.
Lake Gardens, 3355 is offering VIC ‘s 397th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 30% of discounts offered by this VIC.
Property investors should expect to get $400 weekly from the median priced house in this suburb.
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Lake Gardens is a suburb on the rural-urban fringe of western Ballarat. It is roughly 3km from the centre of Ballarat, which itself is approximately 105km from Melbourne. Many residents work flexible hours in Melbourne locations, preferring the long drive to city living. Ballarat’s service industries, mines and small manufacturing sector are also prominent employers in the area.
Lake Gardens is situated by the town’s botanical gardens, set close to Lake Wendouree. The demand for property there is evident by the short time that properties are usually on the market – 66 days. This is despite a median house price of over $400,000, which is considered high for the area. The area’s desirability is also reinforced by its popularity with renters, with vacancies especially tight at 0.92%.
There is also a marginal level of stock on the market. Only 0.09% of the total properties in the suburb are up for sale, suggesting that strong demand is being met by a short supply of available property – an indication that prices could hike soon.