Giving property investors a an average capital gain of -2.27% for the last year, Skye, 3977 is the 2158th highest performer in Australia in this respect.
Comparing Skye,3977 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
LACK OF BUYER INTEREST may well be the reason that Skye is offering property investors an average of -6.82. This rate of discount on properties puts Suburb at number 339th in terms of most discounted suburbs in VIC
Residents and property investors in Skye have been waiting around 45.6289 days to sell a property.
The VIC suburb of Skye, 3977 is in the Frankston (C) local government area.
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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.