At number 2778th in the list of Australian suburbs ordered by increase in median house value over the last year, Minyip, 3392 is in the BOTTOM 40% with a property value increase of -3.33% recorded in median house prices.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Minyip has increased when compared to the 5 year average annual rate.
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Sellers need to offer significant discounts
Median house price: $84,500
Three-year growth: -10.1%
Rental yield: 8.9%
Regarded as the “heart of the Wheatbelt,” the suburb of Minyip in the Wimmera region is one of the centres of grain farming in Australia.
House prices in this suburb have been dropping since January 2016, with the median value plummeting all the way to $84,500. While houses sell in an average of less than 60 days, sellers have to offer massive discounts of 12.7% on average.
There are many examples of historical architecture in this suburb, including the Minyip Memorial Hall, old silos, the local railway station and various hotels. The foundation stone of Minyip Hospital is displayed in the town square along with a unique clock. The Lions Children’s Playground is another must-see for history buffs. There are several shops and dining options for residents and visitors alike, and there are also schools for children.