If you compare the increase in value of investment property in Grovedale, 3216 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this VIC suburb was 8.71%.
If we look at median property appreciation over just the last three months, Grovedale has given property investors a paper return of 2.22%. This puts Suburb as 352 on a list of fastest fasting appreciating suburbs in VIC
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Grovedale, 3216. Typically our figures indicate that -3.94% is being offered, which puts this VIC suburb at 3001th most discounted overall in Australia.
Grovedale is in the TOP 30% in VIC when comparing median price capital growth over the last year. Grovedale gave property investors a good capital gain figure when compared to the rest of the state, with 11.47%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Grovedale has increased when compared to the 5 year average annual rate.
Our latest figures would indicate that property sellers in Grovedale are currently offering property investors an average price cut of -4.03% below the asking price at the moment.
With the median price for a house in Grovedale being $323250 and the advertised rent reaching $300 the gross rental yield for property investors calculates out to be 4.83%