Giving property investors a a stable capital gain of 9.46% for the last year, Grovedale, 3216 is the 1310th highest performer in Australia in this respect.
When looking at the potential capital gains offered to property investors over the last 3 years, Grovedale comes in at number 459th in VIC.
At number 363th of VIC’s most discounted properties, Grovedale is in the middle of the state/territory when listing in order of most discounted to least.
With the median price for a house in Grovedale being $405000 and the advertised rent reaching $360 the gross rental yield for property investors calculates out to be 4.62%
Property value increases in Grovedale have tracked higher than the VIC average of 4.26% over the last 12 months.
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.
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 Grovedale itself are offering an average vendor discount of -4.59% to real estate investors.
On average over the past year, suburb has had 3.83 sales per month, which equates to 46 per year.
Using the current median advertised rental of $300 and the average annual increase in value of a median property of 3.24%, investors should hope to achieve an overall return of 5.11%