At number 1989th in the list of Australian suburbs ordered by increase in median house value over the last year, Ringwood, 3134 is in the top half with a property value increase of 4.79% recorded in median house prices.
Comparing Ringwood,3134 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
LACK OF BUYER INTEREST may well be the reason that Ringwood is offering property investors an average of -6.03. This rate of discount on properties puts Suburb at number 416th in terms of most discounted suburbs in VIC
On average over the past year, suburb has had 17.08 sales per month, which equates to 205 per year.
Ringwood is 491th on a list of best yielding suburbs for rents in VIC with a 2.57% return
If you compare the increase in value of investment property in Ringwood, 3134 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 6.35%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Ringwood has increased when compared to the 5 year average annual rate.
Ringwood3134 is located in VIC which offers an average discount of -5.12% to property investors. Ringwood itself is showing figures that indicate -2.59% is the average achievable by property buyers investing in the suburb.
Often selling an investment property can take time, and in Ringwood the average time real estate has been on the market is 51.36 days.
Ringwood, 3134’s gross rental yield is 3.51%
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.