Baranduda is an average performer in VIC when comparing median price capital growth over the last year. Baranduda gave property investors a average capital gain figure when compared to the rest of the state, with 2.88%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Baranduda has increased when compared to the 5 year average annual rate.
Vendor discounting in Baranduda is giving property investors an average Vendor Discount of around -5.11%. This puts suburb at number 425th in VIC when ranking the most discounted suburbs.
On average over the past year, suburb has had 2.83 sales per month, which equates to 34 per year.
Using the current median advertised rental of $395 and the average annual increase in value of a median property of 2.35%, investors should hope to achieve an overall return of 5.10%
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Regional suburb grows subtly
Median house price: $360,000
Three-year growth: 12.50%
Rental yield: 5.56%
The suburb of Baranduda is located just over 10km from the bustling city of Wodonga. It flies under the radar, but it has been growing steadily in recent years.
Investors can gain yields of almost 6%, while vendors can sell at good prices, since the average discount rate is quite low at 3.8%. Buyers are likely attracted to Baranduda for its affordability, with the median house price at a comfortable $360,000. This is in spite of the 12% growth recorded by the suburb over the previous year.
Another drawing card for Baranduda is its proximity to Wodonga, which is regarded as a major city in regional Victoria and is home to several major businesses including cattle and manufacturing firms. There are several schools in Wodonga as well, including the Wodonga Institute of TAFE and La Trobe University.
Commuters can take the bus into the city. Residents can also travel to Wodonga by car through the Kiewa Valley Highway.