Over the last year, property investments in Ringwood, 3134 have given investors a capital gain of 3.85%. This compares badly with the 8.12% for VIC as a whole.
While Ringwood,3134 ranked number 512th in VIC for increase in median house value (annualised) increase, it is ranked 35th over the last 5 years.
Ringwood3134 is located in VIC which offers an average discount of -6.00% to property investors. Ringwood itself is showing figures that indicate -4.74% is the average achievable by property buyers investing in the suburb.
Using the current median advertised rental of $400 and the average annual increase in value of a median property of 9.73%, investors should hope to achieve an overall return of 2.57%
With a capital gain of 5.05% for the last 12 months, Ringwood, 3134 has performed for property investments than its average annual 7.60% property growth over the last 5 years.
A 34.21% growth in median value for property investors in Ringwood,3134 puts this suburb at number 299th in terms of best performing suburbs in VIC
At number 302th of VIC’s most discounted properties, Ringwood is in the TOP 10% of the state/territory when listing in order of most discounted to least.
Situated 22.12km from the CBD, Ringwood is one of Maroondah localities in the postcode 3134.
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.