Tongala, 3621 ranked 580th in VIC when comparing growth in median property values or capital gain over the last 12 months. Tongala is one of 2099 in our list for VIC
Tongala,3621 was ranked 3456 in Australia by increase in median property value over the quarter.
Our latest figures would indicate that property sellers in Tongala are currently offering property investors an average price cut of -5.66% below the asking price at the moment.
Residents and property investors in Tongala have been waiting around 127.938 days to sell a property.
Information supplied by:
Dairy town is enlivened by growth
Median house price: $218,000
Three-year growth: 16.58%
Rental yield: 5.37%
Situated in the Goulburn Valley region, the suburb of Tongala is known for the murals that decorate the walls of the town.
The suburb is quite affordable, with houses going at a median price of $218,000. This is despite considerable growth over recent years. In fact, over the January 2017 quarter, prices increased by nearly 30%. Rental yields are also quite high at an average of over 5%, which benefits investors looking for a long-term investment. Those looking to sell can get excellent deals, with the average discount rate clocking in at 3.59%. This is likely because the vacancy rate is remarkably low at 0.72%.
Tongala is mainly supported by the dairy industry, with food processing plants providing jobs. The suburb is sandwiched between Kyabram and Echuca, putting residents within 30 minutes of various restaurants, schools, reserves and recreational facilities.