Caroline Springs, 3023 ranked 369th in VIC when comparing growth in median property values or capital gain over the last 12 months. Caroline Springs is one of 2098 in our list for VIC
Over the longer term, Caroline Springs has seen property prices show investors a 27.75% return over the last 3 years. This is worse than over the last 12 months
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 -4.32% is being offered, which puts this VIC suburb at 2738th most discounted overall in Australia.
Residents and property investors in Caroline Springs have been waiting around 53.96 days to sell a property.
Advertised rents are around the $395 mark per week – giving a return of 3.53% based on the median price in Suburb
Investment property in Caroline Springs has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 3.80%
Caroline Springs,3023 has offered an average of 3.80% return per annum in house price rises to property investors over the last three years.
At number 161th of VIC’s most discounted properties, Caroline Springs is in the middle of the state/territory when listing in order of most discounted to least.
At number 381 in a list of fastest selling suburbs, Caroline Springs is in the TOP 30% of suburbs in Australia with an average of days on market 53.08 for properties listed there.
Using the current median advertised rental of $370 and the average annual increase in value of a median property of 2.30%, investors should hope to achieve an overall return of 4.69%
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
Information supplied by:
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.