Property value increases in Wallan have tracked just higher than the VIC average of -1.79% over the last 12 months.
When looking at the potential capital gains offered to property investors over the last 3 years, Wallan comes in at number 101th in VIC.
Property investors looking for a bargain in Wallan should be aiming for at least -8.11% off the asking price, which is the average vendor discount being achieved at the moment.
On average over the past year, suburb has had 13.25 sales per month, which equates to 159 per year.
Property investors who have had real estate in Wallan, 3756 should be relatively pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 0.23%
Wallan,3756 was ranked 435 in Australia by increase in median property value over the quarter.
Property buyers and investors in Wallan 3756 should be seeing an average reduction in asking price of around -6.80% . This means that Wallan is holding prices well when compared to other suburbs in VIC.
At number 323 in a list of fastest selling suburbs, Wallan is in the TOP 30% of suburbs in Australia with an average of days on market 65.2857 for properties listed there.
With the median price for a house in Wallan being $330000 and the advertised rent reaching $320 the gross rental yield for property investors calculates out to be 5.04%
Information supplied by:
Vendors have a ball
Median unit price: $322,000
Three-year growth: 28.8%
Rental yield: 5.0%
A suburb located between the outer fringes of Melbourne and the countryside of north-central Victoria, semi-rural Wallan serves as a midway point between the city and fully rural towns like Kilmore, Broadford and Seymour.
This community-oriented suburb enjoys fresh produce, limited traffic and affordable properties. Nonetheless, it’s still close to the Craigieburn Central shopping complex and Epping Plaza via the Hume Highway. Wallan Primary School, which has an excellent reputation in the area, makes it home here.
Units are going strong in this suburb, with values soaring by 15% in the year to August 2018. Even then, the median price is very affordable at under $350,000 – making it a low-priced market with a lot of upside. The average discount rate is astoundingly low at an average of 0.9%, indicating that apartments sell at almost full price.