VIC has seen average median house prices change by 4.41% which means that Wollert, 3750 has done well for property investors by showing a capital gain of -1.03% over the last year
Comparing Wollert,3750 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
LACK OF BUYER INTEREST may well be the reason that Wollert is offering property investors an average of -6.34. This rate of discount on properties puts Suburb at number 277th in terms of most discounted suburbs in VIC
Renters in Suburb are facing rents around $21580 per annum or $415 every week.
Giving property investors a a stable capital gain of 4.31% for the last year, Wollert, 3750 is the 545th highest performer in Australia in this respect.
If we look at median property appreciation over just the last three months, Wollert has given property investors a paper return of -0.13%. This puts Suburb as 285 on a list of fastest fasting appreciating suburbs in VIC
Information supplied by:
Strong growth maintains high prices
Median house price: $600,000
Three-year growth: 46.3%
Rental yield: 3.5%
Named for a Woiwurrung word that translates to “where possums abound,” the suburb of Wollert came into existence in the 1830s.
It began as a community of sheep raisers, which ventured into the dairy industry until the 1960s. Today, Wollert focuses on small-scale grazing, in addition to quarrying and brickmaking. In fact, Wollert is the home of a Brickworks Limited plant, the biggest brickmaker in Australia.
The suburb is 27km from Melbourne, and 6km north of the larger suburb of Epping, which offers amenities like shopping centres, a hospital and schools. This advantageous location could be the reason for its higher median house price, and could be sustaining the 13% growth this market enjoyed over the 12 months to February 2019. Houses also have been selling reasonably well, being on the market for only 53 days on average.