Property value increases in Cockatoo have tracked just higher than the VIC average of 2.87% over the last 12 months.
Comparing Cockatoo,3781 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.51% offered to property buyers. Sellers in Cockatoo itself are offering an average vendor discount of -6.56% to real estate investors.
In the last year 64 properties changed hands in Cockatoo, which puts it as the 352th most active market in VIC when comparing the number of sales per suburb.
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Cockatoo, VIC – Community makes this mountainside suburb
Median house price: $440,000
Three-year growth: 20.55%
Rental yield: 4.14%
Nestled in the Dandenong Ranges between the suburbs of Emerald and Gembrook, Cockatoo is quickly growing as a residential town.
House prices have been increasing steadily over the past five years, with the April 2017 quarter alone recording a 10% rise. Nonetheless, Cockatoo’s distance from the Melbourne CBD makes it so that even significant jumps in price keep the median value below $450,000.
Due to growing demand, vendors are unloading houses at an average discount rate of just 3.7%. Some of this demand is likely coming from investors, who are here for the suburb’s rental yield of 4%.
Cockatoo’s appeal lies in its well-served community. Residents have access to a supermarket, cafes and restaurants along McBride Street, through which the Puffing Billy train passes. The local sports complex is well equipped with courts and an indoor stadium. Naturally, its scenic location is maximised – Cockatoo continues to be a destination for bushwalkers.