Property value increases in Ouyen have tracked higher than the VIC average of 4.41% over the last 12 months.
Taking the average capital gain, or increase in median house value, Ouyen,3490 has racked up an average of 27.78% over the period. This ranks it number 3852th in the whole country for real estate investors looking at median house price increases.
LACK OF BUYER INTEREST may well be the reason that Ouyen is offering property investors an average of -6.34. This rate of discount on properties puts Suburb at number 7th in terms of most discounted suburbs in VIC
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Values continue to spiral downwards
Median house price: $91,500
Three-year growth: -8.5%
Rental yield: 10.2%
Right in the heart of Victoria’s Mallee region, Ouyen is bordered by national parks that offer access to a collection of native, drought-resistant wildflowers, local wildlife and stunning landscape views.
These national parks include Wyperfeld, Hattah-Kulkyne and Murray Sunset. The suburb itself mainly subsists on dry-land agriculture, such as the farming of wheat and barley. The lambs raised here are also of premium quality.
There is a shopping centre in town, a restored ROXY theatre and facilities for lawn tennis and golf. Ouyen Lake stretches across 14 hectares and is great for picnicking and boating.
The suburb has been characterised by negative growth since 2016, with house values plummeting by 26.8% in the year to January 2019 and then by another 14.9% in the January quarter. This brings the median price down to under $100,000.