Over the last year, property investments in Caroline Springs, 3023 have given investors a capital gain of 10.53%. This compares favourably with the 7.68% for VIC as a whole.
Caroline Springs,3023 has offered an average of 10.53% return per annum in house price rises to property investors over the last three years.
Our latest figures would indicate that property sellers in Caroline Springs are currently offering property investors an average price cut of -5.15% below the asking price at the moment.
In the last year 382 properties changed hands in Caroline Springs, which puts it as the 29th most active market in VIC when comparing the number of sales per suburb.
Caroline Springs is 291th on a list of best yielding suburbs for rents in VIC with a 3.81% return
Investment property in Caroline Springs has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -2.22%
While Caroline Springs,3023 ranked number 284th in VIC for increase in median house value (annualised) increase, it is ranked 315th over the last 5 years.
Vendor discounting in Caroline Springs is giving property investors an average Vendor Discount of around -5.74%. This puts suburb at number 102th in VIC when ranking the most discounted suburbs.
Using the current median advertised rental of $365 and the average annual increase in value of a median property of 3.28%, investors should hope to achieve an overall return of 4.91%
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.