VIC has seen average median house prices change by 2.87% which means that Tongala, 3621 has done well for property investors by showing a capital gain of -17.45% over the last year
Taking the average capital gain, or increase in median house value, Tongala,3621 has racked up an average of -17.45% over the period. This ranks it number 666th in the whole country for real estate investors looking at median house price increases.
Property investors looking for a bargain in Tongala should be aiming for at least -6.48% off the asking price, which is the average vendor discount being achieved at the moment.
Residents and property investors in Tongala have been waiting around 122.632 days to sell a property.
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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.