At number 3367th in the list of Australian suburbs ordered by increase in median house value over the last year, Cockatoo, 3781 is in the BOTTOM 30% with a property value increase of 6.13% recorded in median house prices.
A 63.89% growth in median value for property investors in Cockatoo,3781 puts this suburb at number 335th in terms of best performing suburbs in VIC
Property buyers and investors in Cockatoo 3781 should be seeing an average reduction in asking price of around -3.27% . This means that Cockatoo is holding prices well when compared to other suburbs in VIC.
Renters in Suburb are facing rents around $20800 per annum or $400 every week.
Information supplied by:
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.