Over the last year, property investments in Narre Warren, 3805 have given investors a capital gain of 4.18%. This compares averagely with the 4.75% for VIC as a whole.
Across a shorter period, Narre Warren, 3805 has seen a median price increase of -1.53% over the last quarter.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Narre Warren, 3805. Typically our figures indicate that -6.29% is being offered, which puts this VIC suburb at 2146th most discounted overall in Australia.
In the last year 335 properties changed hands in Narre Warren, which puts it as the 39th most active market in VIC when comparing the number of sales per suburb.
Renters in Suburb are facing rents around $19500 per annum or $375 every week.
At number 534th in the list of Australian suburbs ordered by increase in median house value over the last year, Narre Warren, 3805 is in the top 40% with a property value increase of 4.75% recorded in median house prices.
Across a shorter period, Narre Warren, 3805 has seen a median price increase of -1.41% over the last quarter.
Vendor discounting in Narre Warren is giving property investors an average Vendor Discount of around -1.53%. This puts suburb at number 280th in VIC when ranking the most discounted suburbs.
Often selling an investment property can take time, and in Narre Warren the average time real estate has been on the market is 73.88 days.
Located a fair distance from Melbourne’s CBD, Narre Warren can be a difficult commute for drivers who work in the CBD. However for those who study or have found employment in the surrounding areas, such as at the many hospitals and medical centres nearby, this is the perfect place to base yourselfFull summary
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Median unit price: $419,000
Three-year growth: 37.4%
Rental yield: 4.0%
Located a fair distance from Melbourne’s CBD, Narre Warren can be a difficult commute for drivers who work in the CBD. However for those who study or have found employment in the surrounding areas, such as at the many hospitals and medical centres nearby, this is the perfect place to base yourself.
Local residents have access to excellent shopping nearby via Fountain Gate, and there are plenty of public transport options for those who do need to commute.
The northern sweep of the suburb is often considered to be home to the “better” pockets of Narre Warren, so investors may want to concentrate their search on the north. Brand new, three-bedroom townhouses go for around $550-$600,000; whilst these properties deliver excellent deprecation returns, landlords can stretch your dollars further by investing in established units and apartments.Close