It is bound by Albion (the name given for the ritzy part of Sunshine), Cairnlea, Deer Park and Sunshine West.
Like many suburbs in the west and north west of Melbourne, house prices in Ardeer haven’t increased by as much as they have, in the eastern and southern suburbs.
Acccording to the REIV, Ardeer’s median house price for the year ended December 31, 2007, is $227,500, and is unchanged from the same period a year earlier. Like surrounding western suburbs, house prices in Ardeer are sensitive to interest rate movement – signalling 2008 might not deliver Ardeer property owners substantial capital gains either.
According to Australian Property Monitors, Melbourne’s median weekly asking rent for houses is $340 as at December 2007. This is an increase from $330 per week recorfed in the September 2007 quarter.
Average median weekly asking rents for units are $300 per week in the December 2007 quarter, up $10 since the September quarter.
Gross rental yields for houses in Melbourne are now 4.12 per cent, a drop from 4.23 per cent in the September 2007 quarter. Gross rental yields for apartments in the December 2007 quarter were 4.8 per cent, compared to 4.9 per cent in the September 2007 quarter.