If you compare the increase in value of investment property in Northcote, 3070 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 12.98%.
While Northcote,3070 ranked number 190th in VIC for increase in median house value (annualised) increase, it is ranked 143th over the last 5 years.
LACK OF BUYER INTEREST may well be the reason that Northcote is offering property investors an average of -5.99. This rate of discount on properties puts Suburb at number 507th in terms of most discounted suburbs in VIC
A $560 per week rent on the median house gives suburb investors a gross yield of circa 2.62%, without taking into account capital value appreciation, which has been averaging out at 10.01%.
VIC has seen average median house prices change by 4.09% which means that Northcote, 3070 has done well for property investors by showing a capital gain of -0.80% over the last year
If we look at median property appreciation over just the last three months, Northcote has given property investors a paper return of -1.00%. This puts Suburb as 243 on a list of fastest fasting appreciating suburbs in VIC
Sellers are offering property buyers an average discount of -5.07% to buyers in Northcote at the moment, which is less than average for the rest of VIC.
Often selling an investment property can take time, and in Northcote the average time real estate has been on the market is 64.7 days.