Property value increases in Narre Warren have tracked just lower than the VIC average of -1.79% over the last 12 months.
Over the longer term, Narre Warren has seen property prices show investors a 23.40% return over the last 3 years. This is worse than over the last 12 months
Property buyers and investors in Narre Warren 3805 should be seeing an average reduction in asking price of around -8.12% . This means that Narre Warren is holding prices well when compared to other suburbs in VIC.
Advertised rents are around the $380 mark per week – giving a return of 3.41% based on the median price in Suburb
If you compare the increase in value of investment property in Narre Warren, 3805 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this VIC suburb was -3.60%.
Over the longer term, Narre Warren has seen property prices show investors a 22.06% return over the last 3 years. This is worse than over the last 12 months
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 -7.42% is being offered, which puts this VIC suburb at 333th most discounted overall in Australia.
Narre Warren is 139th on a list of best yielding suburbs for rents in VIC with a 4.39% return
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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.