If you compare the increase in value of investment property in Cranbourne West, 3977 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 -3.79%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Cranbourne West has increased when compared to the 5 year average annual rate.
Cranbourne West, 3977 is offering VIC ‘s 195th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this VIC.
On average over the past year, suburb has had 21.83 sales per month, which equates to 262 per year.
With the median price for a house in Cranbourne West being $520000 and the advertised rent reaching $390 the gross rental yield for property investors calculates out to be 3.90%
At number 548th in the list of Australian suburbs ordered by increase in median house value over the last year, Cranbourne West, 3977 is in the top 40% with a property value increase of 0.92% recorded in median house prices.
The five-year average increase in median property values for Cranbourne West,3977 has given property investors a potential capital gain of 27.06% across each of those five years.
Residents and property investors in Cranbourne West have been waiting around 55.0833 days to sell a property.
The VIC suburb of Cranbourne West, 3977 is in the Casey (C) local government area.
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.