At number 596th in the list of Australian suburbs ordered by increase in median house value over the last year, Geelong West, 3218 is in the top 20% with a property value increase of 15.15% recorded in median house prices.
Taking the average capital gain, or increase in median house value, Geelong West,3218 has racked up an average of 15.15% over the period. This ranks it number 1480th in the whole country for real estate investors looking at median house price increases.
Our latest figures would indicate that property sellers in Geelong West are currently offering property investors an average price cut of -4.56% below the asking price at the moment.
Often selling an investment property can take time, and in Geelong West the average time real estate has been on the market is 59.84 days.
With the median price for a house in Geelong West being $570000 and the advertised rent reaching $360 the gross rental yield for property investors calculates out to be 3.28%
Property investors who have had real estate in Geelong West, 3218 should be relatively unhappy with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 0.58%
Comparing Geelong West,3218 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
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 Geelong West itself are offering an average vendor discount of -4.88% to real estate investors.
On average over the past year, suburb has had 3.83 sales per month, which equates to 46 per year.
With the median price for a house in Geelong West being $347000 and the advertised rent reaching $275 the gross rental yield for property investors calculates out to be 4.12%