At number 629th in the list of Australian suburbs ordered by increase in median house value over the last year, Bittern, 3918 is in the top 20% with a property value increase of 15.55% recorded in median house prices.
A 37.16% growth in median value for property investors in Bittern,3918 puts this suburb at number 202th in terms of best performing suburbs in VIC
LACK OF BUYER INTEREST may well be the reason that Bittern is offering property investors an average of -5.08. This rate of discount on properties puts Suburb at number 598th in terms of most discounted suburbs in VIC
At number 393 in a list of fastest selling suburbs, Bittern is in the TOP 20% of suburbs in Australia with an average of days on market 41.59 for properties listed there.
With the median price for a house in Bittern being $550000 and the advertised rent reaching $400 the gross rental yield for property investors calculates out to be 3.78%
With a capital gain of 22.86% for the last 12 months, Bittern, 3918 has performed for property investments than its average annual 8.95% property growth over the last 5 years.
When looking at the potential capital gains offered to property investors over the last 3 years, Bittern comes in at number 69th in VIC.
In the last year 12 properties changed hands in Bittern, which puts it as the 368th most active market in VIC when comparing the number of sales per suburb.
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.Full summary
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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.Close