Baxter, 3911 ranked 31th in VIC when comparing growth in median property values or capital gain over the last 12 months. Baxter is one of 2098 in our list for VIC
Across a shorter period, Baxter, 3911 has seen a median price increase of 0.00% over the last quarter.
Property investors looking for a bargain in Baxter should be aiming for at least -2.43% off the asking price, which is the average vendor discount being achieved at the moment.
Advertised rents are around the $380 mark per week – giving a return of 3.73% based on the median price in Suburb
House prices in Baxter are quite low, with a median of under $450,000. Thus, for many buyers, settling here could be a solution to Melbourne’s affordability problem.Full summary
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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.Close