With a capital gain of -1.67% for the last 12 months, Narre Warren, 3805 has performed for property investments than its average annual 6.34% property growth over the last 5 years.
While Narre Warren,3805 ranked number 455th in VIC for increase in median house value (annualised) increase, it is ranked 113th over the last 5 years.
Property investors looking for a bargain in Narre Warren should be aiming for at least -6.49% off the asking price, which is the average vendor discount being achieved at the moment.
At number 427 in a list of fastest selling suburbs, Narre Warren is in the TOP 20% of suburbs in Australia with an average of days on market 50.0695 for properties listed there.
Situated 37.65km from the CBD, Narre Warren is one of Casey (C) localities in the postcode 3805.
At number 537th 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 3.70% recorded in median house prices.
While Narre Warren,3805 ranked number 181th in VIC for increase in median house value (annualised) increase, it is ranked 37th over the last 5 years.
LACK OF BUYER INTEREST may well be the reason that Narre Warren is offering property investors an average of -5.98. This rate of discount on properties puts Suburb at number 116th in terms of most discounted suburbs in VIC
Situated 40.78km from the CBD, Narre Warren is one of Casey (C) localities in the postcode 3805.
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Ideal spot for students
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.