Property investors who have had real estate in Ringwood, 3134 should be pleased 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 18.27%
If we look at median property appreciation over just the last three months, Ringwood has given property investors a paper return of 0.00%. This puts Suburb as 460 on a list of fastest fasting appreciating suburbs in VIC
Property buyers and investors in Ringwood 3134 should be seeing an average reduction in asking price of around -5.50% . This means that Ringwood is holding prices well when compared to other suburbs in VIC.
With the median price for a house in Ringwood being $835000 and the advertised rent reaching $395 the gross rental yield for property investors calculates out to be 2.46%
If you compare the increase in value of investment property in Ringwood, 3134 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 13.49%.
Comparing Ringwood,3134 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Property buyers and investors in Ringwood 3134 should be seeing an average reduction in asking price of around -3.12% . This means that Ringwood is holding prices well when compared to other suburbs in VIC.
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.