With a capital gain of -2.43% for the last 12 months, Cranbourne West, 3977 has performed for property investments than its average annual 6.39% property growth over the last 5 years.
While Cranbourne West,3977 ranked number 489th in VIC for increase in median house value (annualised) increase, it is ranked 51th over the last 5 years.
The most recent median price for Cranbourne West is $523000, with sellers offering an average of -6.24% off the asking price.
Renters in Suburb are facing rents around $20280 per annum or $390 every week.
VIC has seen average median house prices change by 7.35% which means that Cranbourne West, 3977 has done well for property investors by showing a capital gain of 0.65% over the last year
If we look at median property appreciation over just the last three months, Cranbourne West has given property investors a paper return of 0.65%. This puts Suburb as 221 on a list of fastest fasting appreciating suburbs in VIC
Information supplied by:
Still in the black
Median unit price: $403,500
Three-year growth: 32.9%
Rental yield: 4.4%
A stone’s throw from the Cranbourne CBD, the suburb of Cranbourne West underwent development in the last decade and has emerged as a great hub for amenities since then.
With a median price of $403,500, units are reasonably priced here. And while growth has weakened over February 2018-2019, the suburb still boasts an average annual growth rate of 13%.
The suburb is quite close to the shore, making it ideal for those who love the water. Many residents laud its community-oriented vibe, and they enjoy the proximity of recreational facilities like the Royal Botanic Gardens, the Cranbourne Racecourse & Recreation Reserve, several golf clubs, and the Factory Rehearsal Centre for the Arts. There is also a wealth of schools in the vicinity, including a TAFE campus. Local entertainment is also just nearby in Cranbourne.