If you compare the increase in value of investment property in Irymple, 3498 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 20.21%.
Comparing Irymple,3498 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Irymple3498 is located in VIC which offers an average discount of -6.82% to property investors. Irymple itself is showing figures that indicate -6.24% is the average achievable by property buyers investing in the suburb.
In the last year 56 properties changed hands in Irymple, which puts it as the 378th most active market in VIC when comparing the number of sales per suburb.
The VIC suburb of Irymple, 3498 is in the Mildura (RC) local government area.
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Median house price: $277,762.5
Three-year growth: 20.8%
Rental yield: 6.0%
In far northwest Victoria, Irymple is a community-oriented rural suburb that appeals to families. Houses are very affordable here, adding to its appeal.
However, the suburb’s potential has been slipping, with prices falling by 2.5% in the 12 months to July 2018, and then by another 5.8% in the July 2018 quarter. Nonetheless, investors continue to enjoy strong returns of 6% of weekly rent rates of $320 on average. Moreover, houses spend only 55 days on the market.
Irymple is the site of several schools, such as Irymple Primary School, Irymple South Primary School, Irymple Secondary College and Mildura Christian College. There is also a strong emphasis on sports in this area – the local football and netball club plays in the Sunraysia league, and the suburb has a basketball association. There are also clubs for soccer, lawn bowls, bocce and swimming.