Giving property investors a an unimpressive capital gain of -5.08% for the last year, Mount Eliza, 3930 is the 2629th highest performer in Australia in this respect.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Mount Eliza has increased when compared to the 5 year average annual rate.
State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.90% offered to property buyers. Sellers in Mount Eliza itself are offering an average vendor discount of -11.38% to real estate investors.
Mount Eliza, 3930’s gross rental yield is 3.42%
If you compare the increase in value of investment property in Mount Eliza, 3930 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this VIC suburb was -1.80%.
Taking the average capital gain, or increase in median house value, Mount Eliza,3930 has racked up an average of -1.80% over the period. This ranks it number 588th in the whole country for real estate investors looking at median house price increases.
The most recent median price for Mount Eliza is $545000, with sellers offering an average of -12.51% off the asking price.
A $420 per week rent on the median house gives suburb investors a gross yield of circa 4.01%, without taking into account capital value appreciation, which has been averaging out at 4.90%.
Information supplied by:
Low values maintain growth
Median unit price: $480,000
Three-year growth: 8.6%
Rental yield: 3.8%
A seaside haven on the Mornington Peninsula, the suburb of Mount Eliza offers affordable apartments just about an hour’s drive from Melbourne.
The median unit value remained under $500,000 even with 9.3% growth over the past year. Vacancies are tight at just 0.75%, causing properties to sell at low discount rates. Nonetheless, the suburb’s performance slipped slightly over the June 2017 quarter when prices fell by 4%.
Melbourne Business School is located in Mount Eliza, along with Mount Eliza Secondary College and Mount Eliza Primary School. Mount Eliza Village is the suburb’s main commercial hub, containing supermarkets, bank and specialty shops. The Mornington railway line borders Mount Eliza, and the suburb is surrounded by many beaches and water bodies, including Daveys Bay and Manyung Creek.