Property value increases in Caroline Springs have tracked just higher than the VIC average of 7.80% over the last 12 months.
Comparing Caroline Springs,3023 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Property buyers and investors in Caroline Springs 3023 should be seeing an average reduction in asking price of around -5.05% . This means that Caroline Springs is holding prices well when compared to other suburbs in VIC.
With the median price for a house in Caroline Springs being $520000 and the advertised rent reaching $380 the gross rental yield for property investors calculates out to be 3.80%
Caroline Springs is in the bottom 30% in VIC when comparing median price capital growth over the last year. Caroline Springs gave property investors a disappointing capital gain figure when compared to the rest of the state, with -1.25%.
If we look at median property appreciation over just the last three months, Caroline Springs has given property investors a paper return of -1.48%. This puts Suburb as 264 on a list of fastest fasting appreciating suburbs in VIC
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Caroline Springs, 3023. Typically our figures indicate that -5.78% is being offered, which puts this VIC suburb at 541th most discounted overall in Australia.
At number 811 in a list of fastest selling suburbs, Caroline Springs is just in the bottom half of suburbs in Australia with an average of days on market 79.5 for properties listed there.
The VIC suburb of Caroline Springs, 3023 is in the Melton local government area.
Take a look 25km west of Melbourne’s CBD and you will find a suburb that’s got a lot of things going for it.Full summary
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Take a look 25km west of Melbourne’s CBD and you will find a suburb that’s got a lot of things going for it.
Towards the north of Caroline Springs is the town square and main shopping centre. But as the name suggests, its natural beauty is a key drawcard of this suburb. In particular, the Kororoit Creek runs through the centre of the suburb which is home to some beautiful and rare plants and animals.
There are also great walking tracks, not to mention its sought-after parks and lakes.
Moving on to the popular amenities unrelated to the outdoors, there is also a good range of shops, cafés, restaurants and medical facilities within the suburb.
At the moment, the suburb’s main form of transport is car, however, a new V/Line train station at Caroline Springs is on track to be completed in 2016. Demand is already strong as shown by the vacancy rate of just 1.57%. Moreover, Onthehouse.com.au is predicting a strong 7% p.a growth over the next eight years.
Families who target this area would benefit from buying in streets such as Tumbalong St and Pyrmont Ln. Not only are they situated in a quiet area but they are in close proximity to schools, the town centre, restaurants, lakes and public transport. Three-bedroom houses in this area can be picked up for less than $500,000.