Investment property in Northcote has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 14.18%
Northcote,3070 was ranked 1368 in Australia by increase in median property value over the quarter.
Sellers are offering property buyers an average discount of -5.77% to buyers in Northcote at the moment, which is less than average for the rest of VIC.
On average over the past year, suburb has had 21.92 sales per month, which equates to 263 per year.
With the median price for a house in Northcote being $1200000 and the advertised rent reaching $580 the gross rental yield for property investors calculates out to be 2.51%
Northcote has had a pretty average year for property investment returns compared to the rest of VIC, giving investors a capital gain of 1.63% to date .
If we look at median property appreciation over just the last three months, Northcote has given property investors a paper return of 2.04%. This puts Suburb as 103 on a list of fastest fasting appreciating suburbs in VIC
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.13% offered to property buyers. Sellers in Northcote itself are offering an average vendor discount of -3.64% to real estate investors.
In the last year 216 properties changed hands in Northcote, which puts it as the 27th most active market in VIC when comparing the number of sales per suburb.
Northcote is 227th on a list of best yielding suburbs for rents in VIC with a 3.95% return