At number 1598th 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 9.32% recorded in median house prices.
When looking at the potential capital gains offered to property investors over the last 3 years, Caroline Springs comes in at number 397th in VIC.
Property investors looking for a bargain in Caroline Springs should be aiming for at least -4.38% off the asking price, which is the average vendor discount being achieved at the moment.
Renters in Suburb are facing rents around $4680 per annum or $390 every week.
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 1.27%
Taking the average capital gain, or increase in median house value, Caroline Springs,3023 has racked up an average of 1.27% over the period. This ranks it number 1431th in the whole country for real estate investors looking at median house price increases.
LACK OF BUYER INTEREST may well be the reason that Caroline Springs is offering property investors an average of -4.83. This rate of discount on properties puts Suburb at number 257th in terms of most discounted suburbs in VIC
In the last year 57 properties changed hands in Caroline Springs, which puts it as the 161th most active market in VIC when comparing the number of sales per suburb.
Property investors should expect to get $370 weekly from the median priced house in this suburb.
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.