Over the last year, property investments in Grovedale, 3216 have given investors a capital gain of 5.81%. This compares badly with the 7.68% for VIC as a whole.
A 13.48% growth in median value for property investors in Grovedale,3216 puts this suburb at number 266th in terms of best performing suburbs in VIC
The most recent median price for Grovedale is $391500, with sellers offering an average of -5.67% off the asking price.
On average over the past year, suburb has had 17.25 sales per month, which equates to 207 per year.
A $350 per week rent on the median house gives suburb investors a gross yield of circa 4.65%, without taking into account capital value appreciation, which has been averaging out at 4.46%.
If you compare the increase in value of investment property in Grovedale, 3216 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was -0.87%.
Across a shorter period, Grovedale, 3216 has seen a median price increase of 0.00% over the last quarter.
LACK OF BUYER INTEREST may well be the reason that Grovedale is offering property investors an average of -5.14. This rate of discount on properties puts Suburb at number 180th in terms of most discounted suburbs in VIC
Using the current median advertised rental of $300 and the average annual increase in value of a median property of 2.53%, investors should hope to achieve an overall return of 5.47%