Property investors who have had real estate in Caroline Springs, 3023 should be relatively pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 9.28%
When looking at the potential capital gains offered to property investors over the last 3 years, Caroline Springs comes in at number 380th in VIC.
Caroline Springs3023 is located in VIC which offers an average discount of -6.00% to property investors. Caroline Springs itself is showing figures that indicate -4.77% is the average achievable by property buyers investing in the suburb.
Residents and property investors in Caroline Springs have been waiting around 51.23 days to sell a property.
Caroline Springs is 298th on a list of best yielding suburbs for rents in VIC with a 3.75% return
Property investors who have had real estate in Caroline Springs, 3023 should be relatively unhappy with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -3.11%
Caroline Springs,3023 has offered an average of -3.11% return per annum in house price rises to property investors over the last three years.
The most recent median price for Caroline Springs is $390000, with sellers offering an average of -5.81% off the asking price.
With the median price for a house in Caroline Springs being $390000 and the advertised rent reaching $365 the gross rental yield for property investors calculates out to be 4.87%
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.