Property investors who have had real estate in Birchip, 3483 should be pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 10.42%
The five-year average increase in median property values for Birchip,3483 has given property investors a potential capital gain of 16.23% across each of those five years.
On average over the past year, suburb has had 0.92 sales per month, which equates to 11 per year.
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Rural suburb sees some growth
Median house price: $92,500
Three-year growth: -23.7%
Rental yield: 9.3%
Sitting on the Sunraysia Highway in Victoria’s Mallee district, Birchip is a small rural suburb centred on agriculture.
Some of the crops grown in this area include wheat, barley and canola. The most common livestock are sheep and pigs. The Birchip Cropping Group makes its base here – this non-profit research organisation is run by farmers from the Wimmera-Mallee region. The Birchip Community Leisure Centre houses several sports facilities, such as Australian football, netball and golf. Birchip is also linked to several roads, including the Calder Highway. There is also an aerodrome for light aircraft.
Birchip houses are very affordable at a median price of under $100,000. The suburb has seen values drop consistently since 2014, but some recovery was reported when values went up by 2.8% in the 12 months to January 2019.