Ringwood is in the TOP 10% in VIC when comparing median price capital growth over the last year. Ringwood gave property investors a very good capital gain figure when compared to the rest of the state, with 21.76%.
A 62.03% growth in median value for property investors in Ringwood,3134 puts this suburb at number 202th in terms of best performing 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.
Advertised rents are around the $395 mark per week – giving a return of 2.43% based on the median price in Suburb
Property investors who have had real estate in Ringwood, 3134 should be relatively 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 11.11%
Comparing Ringwood,3134 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Ringwood3134 is located in VIC which offers an average discount of -5.27% to property investors. Ringwood itself is showing figures that indicate -2.57% is the average achievable by property buyers investing in the suburb.
On average over the past year, suburb has had 13.50 sales per month, which equates to 162 per year.
Using the current median advertised rental of $340 and the average annual increase in value of a median property of 7.57%, investors should hope to achieve an overall return of 3.54%
Pushing out to the far-eastern fringe of Melbourne, Ringwood’s housing market seems to be still full of steam.Full summary
Information supplied by:
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.