Over the last year, property investments in Cockatoo, 3781 have given investors a capital gain of -4.52%. This compares averagely with the -1.79% for VIC as a whole.
Taking the average capital gain, or increase in median house value, Cockatoo,3781 has racked up an average of -4.52% over the period. This ranks it number 186th in the whole country for real estate investors looking at median house price increases.
The most recent median price for Cockatoo is $560000, with sellers offering an average of -8.18% off the asking price.
On average over the past year, suburb has had 4.92 sales per month, which equates to 59 per year.
Advertised rents are around the $380 mark per week – giving a return of 3.53% based on the median price in 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.