Over the last year, property investments in Bittern, 3918 have given investors a capital gain of 0.00%. This compares averagely with the -1.69% for VIC as a whole.
A 47.50% growth in median value for property investors in Bittern,3918 puts this suburb at number 578th in terms of best performing suburbs in VIC
The most recent median price for Bittern is $590000, with sellers offering an average of -7.80% off the asking price.
In the last year 54 properties changed hands in Bittern, which puts it as the 390th most active market in VIC when comparing the number of sales per suburb.
Property investors should expect to get $430 weekly from the median priced house in this suburb.
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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.