Property investors who have had real estate in Ringwood, 3134 should be ok with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 5.26%
Ringwood,3134 has offered an average of 5.26% return per annum in house price rises to property investors over the last three years.
The most recent median price for Ringwood is $800003, with sellers offering an average of -4.95% off the asking price.
Situated 23.52km from the CBD, Ringwood is one of Maroondah localities in the postcode 3134.
Investment property in Ringwood has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 8.90%
When looking at the potential capital gains offered to property investors over the last 3 years, Ringwood comes in at number 49th in VIC.
Property buyers and investors in Ringwood 3134 should be seeing an average reduction in asking price of around -2.72% . This means that Ringwood is holding prices well when compared to other suburbs in VIC.
In the last year 186 properties changed hands in Ringwood, which puts it as the 37th most active market in VIC when comparing the number of sales per suburb.
Pushing out to the far-eastern fringe of Melbourne, Ringwood’s housing market seems to be still full of steam.Full summary
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Pushing out to the far-eastern fringe of Melbourne, Ringwood’s housing market seems to be still full of steam.Close
At $832,500, the median house price is certainly stretching the bounds of affordability, and conditions don’t indicate buyers will find any relief soon.
The past 12 months have seen a 24% jump in the median house price, and it has also grown 55% over the past five years.
Just under 25km from the heart of Melbourne, Ringwood is somewhat of a hub for the city’s far-eastern suburbs.
The suburb is home to the Eastland Shopping Complex, which is currently undergoing extensive remodelling and is the premier retail facility in the area.
Ringwood is also home to a wide range of educational facilities and is connected to the centre of Melbourne and suburbs further out through a number of train stations.