VIC has seen average median house prices change by 8.96% which means that Bell Park, 3215 has done well for property investors by showing a capital gain of 3.14% over the last year
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.
Our latest figures would indicate that property sellers in Bell Park are currently offering property investors an average price cut of -4.94% below the asking price at the moment.
With the median price for a house in Bell Park being $361000 and the advertised rent reaching $310 the gross rental yield for property investors calculates out to be 4.47%
Investment property in Bell Park has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 9.68%
The five-year average increase in median property values for Bell Park,3215 has given property investors a potential capital gain of 17.22% across each of those five years.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.07% offered to property buyers. Sellers in Bell Park itself are offering an average vendor discount of -4.71% to real estate investors.
Often selling an investment property can take time, and in Bell Park the average time real estate has been on the market is 103.8 days.
Using the current median advertised rental of $310 and the average annual increase in value of a median property of 4.47%, investors should hope to achieve an overall return of 5.04%
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.