At number 982th in the list of Australian suburbs ordered by increase in median house value over the last year, Portsea, 3944 is in the top 30% with a property value increase of 4.81% recorded in median house prices.
While Portsea,3944 ranked number 542th in VIC for increase in median house value (annualised) increase, it is ranked 11th over the last 5 years.
With the median price for a house in Portsea being $2177500 and the advertised rent reaching $750 the gross rental yield for property investors calculates out to be 1.79%
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Over the last year, property investments in Portsea, 3944 have given investors a capital gain of 17.89%. This compares very favourably with the 0.13% for VIC as a whole.
Over the longer term, Portsea has seen property prices show investors a 5.19% return over the last 3 years. This is an improvement over the last 12 months.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -8.61% offered to property buyers. Sellers in Portsea itself are offering an average vendor discount of -21.25% to real estate investors.
In the last year 45 properties changed hands in Portsea, which puts it as the 411th most active market in VIC when comparing the number of sales per suburb.
With the median price for a house in Portsea being $1367500 and the advertised rent reaching $772.5 the gross rental yield for property investors calculates out to be 2.94%.
Gorgeous bay beaches
Portsea golf club
Popular surf beaches
National park with cliff top walking tracks abutting Bass Strait
Approx 1 hours drive from Melbourne CBD.
Most sought-after properties:
Properties close to Portsea pier or cliff top.
Most common properties:
Portsea golf club
Bay & ocean beaches
Local industry and business:
Tourism and hospitality are the main businesses
Point Nepean Road
Bus service connects from Portsea to Frankston