Caroline Springs, 3023 ranked 306th 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
Taking the average capital gain, or increase in median house value, Caroline Springs,3023 has racked up an average of 10.30% over the period. This ranks it number 1611th in the whole country for real estate investors looking at median house price increases.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.87% offered to property buyers. Sellers in Caroline Springs itself are offering an average vendor discount of -4.65% to real estate investors.
A $390 per week rent on the median house gives suburb investors a gross yield of circa 3.71%, without taking into account capital value appreciation, which has been averaging out at 6.42%.
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 -2.47%
Taking the average capital gain, or increase in median house value, Caroline Springs,3023 has racked up an average of -2.47% over the period. This ranks it number 1380th in the whole country for real estate investors looking at median house price increases.
Caroline Springs, 3023 is offering VIC ‘s 82th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 30% of discounts offered by this VIC.
Property investors should expect to get $375 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.