If you compare the increase in value of investment property in Bittern, 3918 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was -7.14%.
If we look at median property appreciation over just the last three months, Bittern has given property investors a paper return of -0.43%. This puts Suburb as 602 on a list of fastest fasting appreciating suburbs in VIC
Property buyers and investors in Bittern 3918 should be seeing an average reduction in asking price of around -9.45% . This means that Bittern is holding prices well when compared to other suburbs in VIC.
Property investors should expect to get $450 weekly from the median priced house in this suburb.
Situated 61.21km from the CBD, Bittern is one of Mornington Peninsula (S) localities in the postcode 3918.
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Distance doesn’t curb house price hikes
Median house price: $465,000
Three-year growth: 16.25%
Rental yield: 4.25%
Despite being a little further out from Melbourne’s CBD, the rural suburb of Bittern is still attracting plenty of buyers as an affordable suburb within Western Port’s urban enclave.
This is evidenced by the suburb’s nigh-22% increase in house prices over the past 12 months, resuming a five-year trend of positive growth. While the value hike over the March 2017 quarter was slighter at just 0.49%, the suburb still boasts a strong average annual growth rate of almost 7%.
Bittern is about 10 minutes away from Balnarring Beach, and just over an hour’s drive from Melbourne. The suburb itself is home to a primary school and a stadium for sports like basketball and netball. Bittern railway station is part of the Stony Port line, while buses run to and from Frankston Station.