Investment property in South Morang has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 11.77%
Over the longer term, South Morang has seen property prices show investors a 46.86% return over the last 3 years. This is worse than over the last 12 months
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.19% offered to property buyers. Sellers in South Morang itself are offering an average vendor discount of -3.97% to real estate investors.
VIC has seen average median house prices change by 7.50% which means that South Morang, 3752 has done well for property investors by showing a capital gain of 3.90% over the last year
Taking the average capital gain, or increase in median house value, South Morang,3752 has racked up an average of 3.90% over the period. This ranks it number 706th in the whole country for real estate investors looking at median house price increases.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.65% offered to property buyers. Sellers in South Morang itself are offering an average vendor discount of -3.32% to real estate investors.
South Morang has had a quite poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -1.70% to date.
Information supplied by:
Stockdale & Leggo
03 9407 9100
0422 577 353
Across a shorter period, South Morang, 3752 has seen a median price increase of -1.46% over the last quarter.
At number 481th of VIC’s most discounted properties, South Morang is in the TOP 30% of the state/territory when listing in order of most discounted to least.
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%.Full summary
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