If you compare the increase in value of investment property in Skye, 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 -1.32%.
Skye,3977 has offered an average of -1.32% return per annum in house price rises to property investors over the last three years.
At number 314th of VIC’s most discounted properties, Skye is in the middle of the state/territory when listing in order of most discounted to least.
Using the current median advertised rental of $450 and the average annual increase in value of a median property of 6.00%, investors should hope to achieve an overall return of 3.90%
Skye, 3977 ranked 289th in VIC when comparing growth in median property values or capital gain over the last 12 months. Skye is one of 2099 in our list for VIC
Skye,3977 has offered an average of -3.00% return per annum in house price rises to property investors over the last three years.
In the last year 19 properties changed hands in Skye, which puts it as the 304th most active market in VIC when comparing the number of sales per suburb.
Using the current median advertised rental of $375 and the average annual increase in value of a median property of 8.82%, investors should hope to achieve an overall return of 4.38%
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Housing market is alive in sleepy suburb
Median house price: $515,000
Three-year growth: 29.40%
Rental yield: 3.84%
Situated in the outer ring of Melbourne, the suburb of Skye is a rural haven for its residents.
Despite being crowned the most unliveable suburb in Melbourne in 2015 by Tract Consultants and Deloitte Access Economics, the suburb has not just been getting by – it is advancing significantly in Victoria’s housing market. In the previous year leading up to May 2017, house prices soared by 17.34% to pass the $500,000 mark. Even with this boost, vendors enjoy quick sales (houses spend an average of just 28 days on the market) at low discount rates.
Having been around for over 140 years, Skye boasts a historic heritage; for instance, Skye Primary School has been around since 1873. There is resistance to the idea of developing Skye further, given its rare unspoiled beauty, but the suburb does benefit from being close to the city of Frankston.