Welcome to our monthly real estate update for Sunshine, Victoria 3020. Let’s dive into the key figures, trends, and property sales that made headlines in May 2023.
Property Sales
A total of 17 properties changed hands this month, ranging from houses to units. The highest sale was achieved by two properties: 159 Morris Street and 17 Parsons Street, both sold for a whopping $1,100,000.
The lowest sale of the month was a unit at 1/136 Wright Street, sold for $310,000.
Other notable sales include:
– 36a Lynch Street, sold for $741,000.
– 12 Thomson Street, sold for $890,000.
– 29/112-116 Anderson Road, sold for $801,000.
Top Agents
The number one agent for the past three years in Sunshine, Victoria 3020 is Brenda Ngan, followed by Peter Kay. It’s worth noting that there’s a 29 sale difference between the first and second place, demonstrating Brenda Ngan’s strong performance in the local real estate market.
Median Property Prices & Growth
The median price for houses in Sunshine, Victoria 3020 over the past 12 months (May 2022 – April 2023) was $845,000. This represented a slight decline in growth of -3.8% from the previous year.
For apartments and units, the median price was significantly lower at $403,000 for the same period. This segment of the market experienced a substantial decrease in growth, down by -33.6%.
Rental Market
Despite the decline in property prices, the rental market in Sunshine has been steadily growing. The median weekly rental price for houses rose by 5.3% over the past 12 months to $400 per week.
Apartments and units also saw an increase, with the median weekly rental price going up by 4.5% to $345 per week.
Source of Information
All property data and information presented in this update has been independently sourced from www.realestate.com.au and www.domain.com.au.
Conclusion
While property prices have seen a slight dip in Sunshine, Victoria 3020, the rental market is proving to be robust with a steady growth rate. This suggests that Sunshine could be an ideal spot for investors looking for rental returns.
As always, if you’re considering buying, selling, or renting in Sunshine, it’s important to seek professional advice tailored to your specific needs and circumstances.
Stay tuned for next month’s update as we continue to keep an eye on the trends in Sunshine’s real estate market.
Disclaimer: This article provides general information only and may not reflect the market conditions at the time of your reading. We recommend seeking professional advice before making any property decisions.