Ringwood is in the bottom 20% in VIC when comparing median price capital growth over the last year. Ringwood gave property investors a dismal capital gain figure when compared to the rest of the state, with -0.90%.
Across a shorter period, Ringwood, 3134 has seen a median price increase of 2.60% over the last quarter.
Vendor discounting in Ringwood is giving property investors an average Vendor Discount of around -4.15%. This puts suburb at number 443th in VIC when ranking the most discounted suburbs.
Often selling an investment property can take time, and in Ringwood the average time real estate has been on the market is 57.89 days.
Ringwood is an average performer in VIC when comparing median price capital growth over the last year. Ringwood gave property investors a good capital gain figure when compared to the rest of the state, with 6.78%.
While Ringwood,3134 ranked number 115th in VIC for increase in median house value (annualised) increase, it is ranked 23th over the last 5 years.
Property buyers and investors in Ringwood 3134 should be seeing an average reduction in asking price of around -2.67% . This means that Ringwood is holding prices well when compared to other suburbs in VIC.
Advertised rents are around the $350 mark per week – giving a return of 3.40% based on the median price in 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.