Giving property investors a a stable capital gain of 3.51% for the last year, Lucknow, 3875 is the 1130th highest performer in Australia in this respect.
Taking the average capital gain, or increase in median house value, Lucknow,3875 has racked up an average of 3.51% over the period. This ranks it number 722th in the whole country for real estate investors looking at median house price increases.
Vendor discounting in Lucknow is giving property investors an average Vendor Discount of around -3.18%. This puts suburb at number 581th in VIC when ranking the most discounted suburbs.
Using the current median advertised rental of $300 and the average annual increase in value of a median property of 4.25%, investors should hope to achieve an overall return of 5.29%
Information supplied by:
Buyers on a budget look to rising suburb
Median house price: $240,000
Three-year growth: 3.4%
Rental yield: 6.7%
Situated in East Gippsland, the suburb of Lucknow boasts very low-priced houses.
Lucknow’s rise began only three years ago, but the increasing rates of growth indicate that this suburb has potential. Over the last 12 months leading up to November 2017, house prices went up by 7.1%, and this trend is set to continue based on the 11.6% hike recorded in the November 2017 quarter.
Even then, the median value remains under $250,000, which is ideal for buyers who are looking to save. The average rental yield is very high at 6.7%, which could appeal to investors seeking cash flow.
Lucknow sits on the Mitchell River, and provides easy access to the regional centre of Bairnsdale. Thus, schools and train transport are close by.