VIC has seen average median house prices change by 8.27% which means that Newport, 3015 has done well for property investors by showing a capital gain of 14.46% over the last year
Over the longer term, Newport has seen property prices show investors a 37.48% return over the last 3 years. This is worse than over the last 12 months
LACK OF BUYER INTEREST may well be the reason that Newport is offering property investors an average of -5.91. This rate of discount on properties puts Suburb at number 65th in terms of most discounted suburbs in VIC
Often selling an investment property can take time, and in Newport the average time real estate has been on the market is 54.9 days.
Using the current median advertised rental of $500 and the average annual increase in value of a median property of 8.07%, investors should hope to achieve an overall return of 2.74%
Giving property investors a an unimpressive capital gain of -1.88% for the last year, Newport, 3015 is the 1263th highest performer in Australia in this respect.
Comparing Newport,3015 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Property investors looking for a bargain in Newport should be aiming for at least -6.47% off the asking price, which is the average vendor discount being achieved at the moment.
Advertised rents are around the $420 mark per week – giving a return of 3.63% based on the median price in Suburb