At number 1431th in the list of Australian suburbs ordered by increase in median house value over the last year, Caroline Springs, 3023 is in the top 40% with a property value increase of 9.80% recorded in median house prices.
Comparing Caroline Springs,3023 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Our latest figures would indicate that property sellers in Caroline Springs are currently offering property investors an average price cut of -4.32% below the asking price at the moment.
Residents and property investors in Caroline Springs have been waiting around 54.53 days to sell a property.
Over the last year, property investments in Caroline Springs, 3023 have given investors a capital gain of 1.02%. This compares badly with the 4.83% for VIC as a whole.
Across a shorter period, Caroline Springs, 3023 has seen a median price increase of 2.04% over the last quarter.
The most recent median price for Caroline Springs is $400000, with sellers offering an average of -4.50% off the asking price.
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.