Irymple is in the TOP 10% in VIC when comparing median price capital growth over the last year. Irymple gave property investors a very good capital gain figure when compared to the rest of the state, with 25.96%.
When looking at the potential capital gains offered to property investors over the last 3 years, Irymple comes in at number 10th in VIC.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.51% offered to property buyers. Sellers in Irymple itself are offering an average vendor discount of -4.33% to real estate investors.
Using the current median advertised rental of $380 and the average annual increase in value of a median property of 6.98%, investors should hope to achieve an overall return of 4.94%
Information supplied by:
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.