Bell Park is in the bottom 40% in VIC when comparing median price capital growth over the last year. Bell Park gave property investors a disappointing capital gain figure when compared to the rest of the state, with 5.26%.
While Bell Park,3215 ranked number 494th in VIC for increase in median house value (annualised) increase, it is ranked 467th over the last 5 years.
Property investors looking for a bargain in Bell Park should be aiming for at least -4.91% off the asking price, which is the average vendor discount being achieved at the moment.
Bell Park is 204th on a list of best yielding suburbs for rents in VIC with a 4.33% return
With a capital gain of 10.85% for the last 12 months, Bell Park, 3215 has performed for property investments than its average annual 4.51% property growth over the last 5 years.
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.
Vendor discounting in Bell Park is giving property investors an average Vendor Discount of around -4.71%. This puts suburb at number 174th in VIC when ranking the most discounted suburbs.
In the last year 25 properties changed hands in Bell Park, which puts it as the 270th most active market in VIC when comparing the number of sales per suburb.
Using the current median advertised rental of $300 and the average annual increase in value of a median property of 4.51%, investors should hope to achieve an overall return of 4.85%
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.