Caroline Springs has had a pretty average year for property investment returns compared to the rest of VIC, giving investors a capital gain of 9.38% to date .
When looking at the potential capital gains offered to property investors over the last 3 years, Caroline Springs comes in at number 386th in VIC.
Caroline Springs, 3023 is offering VIC ‘s 356th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this VIC.
The VIC suburb of Caroline Springs, 3023 is in the Melton local government area.
Over the last year, property investments in Caroline Springs, 3023 have given investors a capital gain of -2.50%. This compares badly with the 3.11% for VIC as a whole.
When looking at the potential capital gains offered to property investors over the last 3 years, Caroline Springs comes in at number 270th in VIC.
Vendor discounting in Caroline Springs is giving property investors an average Vendor Discount of around -5.79%. This puts suburb at number 100th in VIC when ranking the most discounted suburbs.
At number 1147 in a list of fastest selling suburbs, Caroline Springs is in the bottom 30% of suburbs in Australia with an average of days on market 101.21 for properties listed there.
Advertised rents are around the $365 mark per week – giving a return of 4.87% based on the median price in Suburb
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.