Manningham Apartment Growth and Ongoing Value

Just keeping an eye on how the apartments and houses are traveling in Manningham – follow the link below for the latest, and check your own suburb.

  • One apartment/unit is sold every month after being 203 days on the market.
  • By the time body corporate fees and council rates are deducted from gross rental of an apartment it is close to that achieved with a normal detached house.
  • Investors always look to offset the low rental returns with capital gain and redevelopment options which is not possible with apartments.
  • As of June there were around 15% of Pinnacle apartments up for resale.
  • 41x/632 Doncaster Road Doncaster Vic 3108 ……………Sold for $639,500…….  Originally sold for $688,720  30th March 2011 Sold Date: Tue 28-May-13   www.realestate.com.au/property-apartment-vic-doncaster-110518577?         listed by Hudson Bond for $649,500
  • Body corporate fees vary between $3,500 to $4,000 per annum, which could make the total yearly repayment on a mortgage loan of around $50,000.

HOUSE

UNIT

HOUSE

UNIT

 

June 2013

June 2013

Aug 2013

Aug 2013

Median price $725,000 $497,000 $731,000 $520,000
Quarterly growth 0.69 % 0.80 % 1.53 % 1.76 %
12-month growth -0.54 % -3.49 % 0.14 % -1.70 %
3-year growth 8.20 % 10.44 % -1.95 % 6.23 %
5-year growth 15.07 % 19.75 % 17.62 % 13.18 %
Average Annual Growth -0.55 % 3.50 % 7.54 % 4.51 %
Weekly median advertised rent $ 440 $ 400 $450 $395
Number of sales 17 1 179 123
Gross rental yield 3.15 % 4.18 % 3.20 % 3.95 %
Days on market 93 203 84.29 115.37

Source: RP Data  2013-08-30, 2013-06-09

Suburb Snapshot (Investment property magazine)

Doncaster East is a suburb in the Manningham Region of Victoria. Doncaster East has a population of 27,047 people and 19.99% of its occupants live in rental accommodation. The median listing price for houses is $679,000 and this has changed -0.15% over the past year and changed -4.90% over 2 years.

The median rent in Doncaster East for houses is $430 per week and the median rental yield is 3.29%. Stock on the market for houses/townhouses has changed -31.13% compared to last year and the average time to sell a house/townhouse is 101 days. The median listing price for units is $467,500 and this has changed -2.61% over the past year. The average unit takes 187 days to sell and the median rent for a unit in Doncaster East is $375 per week, producing a rental yield of 4.17%.

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