At number 2416th in the list of Australian suburbs ordered by increase in median house value over the last year, Bell Park, 3215 is in the BOTTOM 50% with a property value increase of 4.08% recorded in median house prices.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Bell Park has increased when compared to the 5 year average annual rate.
Sellers are offering property buyers an average discount of -4.11% to buyers in Bell Park at the moment, which is less than average for the rest of VIC.
At number 1525 in a list of fastest selling suburbs, Bell Park is just in the top half of suburbs in Australia with an average of days on market 68.02 for properties listed there.
With the median price for a house in Bell Park being $370000 and the advertised rent reaching $322.5 the gross rental yield for property investors calculates out to be 4.53%
Property value increases in Bell Park have tracked just lower than the VIC average of 4.90% over the last 12 months.
A 18.87% growth in median value for property investors in Bell Park,3215 puts this suburb at number 306th in terms of best performing suburbs in VIC
Bell Park3215 is located in VIC which offers an average discount of -4.83% to property investors. Bell Park itself is showing figures that indicate -3.69% is the average achievable by property buyers investing in the suburb.
The VIC suburb of Bell Park, 3215 is in the Greater Geelong local government area.
Bell Park is 5km north of the Geelong CBD, and 60km west of the centre of Melbourne. It is situated within easy reach of the Geelong Ring Road which leads directly onto the Princes Freeway, and is just a few streets away from Norlane and North Geelong rail stations.Full summary
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Bell Park is 5km north of the Geelong CBD, and 60km west of the centre of Melbourne. It is situated within easy reach of the Geelong Ring Road which leads directly onto the Princes Freeway, and is just a few streets away from Norlane and North Geelong rail stations.
It is within easy reach of a wide range of amenities, with three shopping strips in the suburb, and there are numerous schools in the area. It is also within easy reach of the beach.
Bell Park compares well to neighbouring suburbs: its median price is $5,000 less than neighbouring Bell Post Hill, and $10,000 more affordable than North Geelong. Average weekly incomes are marginally below the Victorian median, with a large proportion of families; residents have a wide range of occupations.
Like other northern Geelong suburbs, capital growth prospects are good due to Melbourne commuters choosing it as an affordable option compared to the state capital.