Investment property in Caroline Springs has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 12.56%
When looking at the potential capital gains offered to property investors over the last 3 years, Caroline Springs comes in at number 347th in VIC.
Property buyers and investors in Caroline Springs 3023 should be seeing an average reduction in asking price of around -4.68% . This means that Caroline Springs is holding prices well when compared to other suburbs in VIC.
The VIC suburb of Caroline Springs, 3023 is in the Melton local government area.
With a capital gain of -2.00% for the last 12 months, Caroline Springs, 3023 has performed for property investments than its average annual 3.52% property growth over the last 5 years.
Caroline Springs,3023 was ranked 830 in Australia by increase in median property value over the quarter.
Sellers are offering property buyers an average discount of -5.80% to buyers in Caroline Springs at the moment, which is less than average for the rest of VIC.
With the median price for a house in Caroline Springs being $396888 and the advertised rent reaching $370 the gross rental yield for property investors calculates out to be 4.85%
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.