Ringwood, 3134 ranked 262th in VIC when comparing growth in median property values or capital gain over the last 12 months. Ringwood is one of 2098 in our list for VIC
While Ringwood,3134 ranked number 639th in VIC for increase in median house value (annualised) increase, it is ranked 31th over the last 5 years.
Property buyers and investors in Ringwood 3134 should be seeing an average reduction in asking price of around -5.41% . This means that Ringwood is holding prices well when compared to other suburbs in VIC.
Renters in Suburb are facing rents around $4800 per annum or $400 every week.
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 12.00%.
Over the longer term, Ringwood has seen property prices show investors a 27.75% return over the last 3 years. This is worse than over the last 12 months
Ringwood3134 is located in VIC which offers an average discount of -5.22% to property investors. Ringwood itself is showing figures that indicate -2.65% is the average achievable by property buyers investing in the suburb.
On average over the past year, suburb has had 14.42 sales per month, which equates to 173 per year.
A $340 per week rent on the median house gives suburb investors a gross yield of circa 3.46%, without taking into account capital value appreciation, which has been averaging out at 7.79%.
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.