Property investors who have had real estate in South Morang, 3752 should be ok with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -0.08%
The five-year average increase in median property values for South Morang,3752 has given property investors a potential capital gain of 50.30% across each of those five years.
Our latest figures would indicate that property sellers in South Morang are currently offering property investors an average price cut of -4.70% below the asking price at the moment.
Situated 22.53km from the CBD, South Morang is one of Whittlesea (C) localities in the postcode 3752.
Giving property investors a an unimpressive capital gain of -3.70% for the last year, South Morang, 3752 is the 1018th highest performer in Australia in this respect.
If we look at median property appreciation over just the last three months, South Morang has given property investors a paper return of 0.00%. This puts Suburb as 238 on a list of fastest fasting appreciating suburbs in VIC
South Morang, 3752 is offering VIC ‘s 237th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 10% of discounts offered by this VIC.
At number 422 in a list of fastest selling suburbs, South Morang is in the TOP 40% of suburbs in Australia with an average of days on market 66.3 for properties listed there.
A $370 per week rent on the median house gives suburb investors a gross yield of circa 4.93%, without taking into account capital value appreciation, which has been averaging out at 1.98%.
Information supplied by:
Stockdale & Leggo
03 9407 9100
0422 577 353
A $350 per week rent on the median house gives suburb investors a gross yield of circa 4.49%, without taking into account capital value appreciation, which has been averaging out at 4.42%.
Selling points: Properties close proximity to Westfield Shopping Centre, South Morang train station, and within easy access to Plenty Road
Most sought after properties: 3-4 bedroom homes up to $450,000 in value. This is the most popular price bracket for 1st home buyers. As a buyer you can also buy a property under 9 years old in most cases in this price bracket.
Most common properties: 3-4 bedroom homes of about 25 sq on an average block size of 450 sqm. Most of these homes are under 10 years old that attracts lots of young home buyers. Most common buyer group is between the ages of 25-35 years based on our experience
South Morang train station
Westfield Plenty Valley
There are number of retirement villages.
Local industry and business:
Whittlesea Council also located in South Morang
There are number of shopping centres in and around South Morang- Westfield Plenty Valley (bordering Mill Park),
Numbers of medical centres are available in the area and there is a newly opened Super Clinique closer to South Morang Train Station.
We can identify a trend that shows buyers who sell older homes in Mill Park area are actively moving into South Morang area to upgrade their lifestyle. This means South Morang is a popular suburb for 2nd home buyers as well.
This buyer activity should push up the home values in South Morang area over the coming years.
South Morang train station