Yea has had a A very good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 8.18% to date .
Comparing Yea,3717 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
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 Yea itself are offering an average vendor discount of -7.28% to real estate investors.
With the median price for a house in Yea being $430000 and the advertised rent reaching $330 the gross rental yield for property investors calculates out to be 3.99%
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Fossil site capitalises on affordability and long-term value
Median house price: $297,500
Three-year growth: 15.53%
Rental yield: 5.07%
Located at the junction of the Goulburn Valley Highway and the Melba Highway, the suburb of Yea maximises its accessibility to drive a consistent increase in house prices.
The suburb recorded almost 15% growth in the past 12 months, with 12.26% growth in the February 2017 quarter alone. Even then, the median house price stays quite low, not reaching $300,000. Coupled with the considerable returns of over 5%, investor activity likely accounts in part for the suburb’s shine.
Detached housing comprises the majority of stock in this suburb. Yea is mainly supported by the farming industry and tourism, as it is known for its heritage sites. Primary and high schools have been established here as well. However, it can be hard for commuters to get around as coach services from Yea to Melbourne and Mansfield are offered only twice a day.