Over the last year, property investments in Kilmore, 3764 have given investors a capital gain of -1.45%. This compares badly with the 4.41% for VIC as a whole.
Comparing Kilmore,3764 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Sellers are offering property buyers an average discount of -6.24% to buyers in Kilmore at the moment, which is less than average for the rest of VIC.
Kilmore is 146th on a list of best yielding suburbs for rents in VIC with a 4.36% return
Kilmore is in the bottom 20% in VIC when comparing median price capital growth over the last year. Kilmore gave property investors a dismal capital gain figure when compared to the rest of the state, with -0.75%.
Across a shorter period, Kilmore, 3764 has seen a median price increase of 0.00% over the last quarter.
Property investors looking for a bargain in Kilmore should be aiming for at least -2.45% off the asking price, which is the average vendor discount being achieved at the moment.
A $310 per week rent on the median house gives suburb investors a gross yield of circa 4.88%, without taking into account capital value appreciation, which has been averaging out at 3.74%.
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Striking growth in old suburb
Median house price: $440,000
Three-year growth: 30.3%
Rental yield: %
The suburb of Kilmore is situated within a town that is one of the oldest inland towns in the state. It has a strong Irish heritage, which is celebrated throughout the area.
The suburb logged remarkable growth over the year to February 2019 – a whopping 15.3% boost in house prices. Even then, the median price remains fairly low at under $450,000.
Among the highlights are the local post office, court house, police barracks and Whitburgh Cottage, all of which were constructed in the late 1800s. In fact, Whitburgh Cottage houses a museum showcasing 19th century knickknacks.
Kilmore’s focus on its history certainly doesn’t mean it’s stuck in the past. The commercial scene is centred on Sydney Street, where there are shops, hotels and supermarkets. Kilmore Creek runs along this street as well, and residents can lie back and relax in the local park.