Investment property in Baxter has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -1.21%
The five-year average increase in median property values for Baxter,3911 has given property investors a potential capital gain of 63.08% across each of those five years.
Property investors looking for a bargain in Baxter should be aiming for at least -9.21% off the asking price, which is the average vendor discount being achieved at the moment.
Often selling an investment property can take time, and in Baxter the average time real estate has been on the market is 56 days.
A $410 per week rent on the median house gives suburb investors a gross yield of circa 4.02%, without taking into account capital value appreciation, which has been averaging out at 6.67%.
Information supplied by:
Fringe suburb leverages its affordability
Median house price: $420,000
Three-year growth: 28.83%
Rental yield: 4.33%
On the outskirts of Melbourne’s urban district, Baxter may be regarded as a rural suburb, but it certainly shows as much potential as its city counterparts.
In fact, this distinction may be working to Baxter’s advantage as house prices are quite low here – a median of under $450,000. Thus, for many buyers, it could be a solution to Melbourne’s affordability problem. It is just an hour’s drive to the CBD – a move that residents may be willing to make to save on housing costs.
As a result, the suburb has been reporting consistent growth for the past 5 years at an average annual rate of 7.5%. At 4.3%, investor returns are considerable as well. Baxter is served by a railway station, as well as buses. There are also several primary schools and a kindergarten for families with young children.