Suburb Profile Report for Newcomb VIC (3219)

Newcomb House: Median price $312,250, Annual capital growth 4.99%, Number of sales 109, Weekly median advertised rent $310

Newcomb Unit: Median price $267,000, Annual capital growth 5.87%, Number of sales 21, Weekly median advertised rent $268

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

If you compare the increase in value of investment property in Newcomb, 3219 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 7.86%.

Newcomb,3219 was ranked 2425 in Australia by increase in median property value over the quarter.

Property investors looking for a bargain in Newcomb should be aiming for at least -6.34% off the asking price, which is the average vendor discount being achieved at the moment.

VIC has seen average median house prices change by 4.26% which means that Newcomb, 3219 has done well for property investors by showing a capital gain of -7.77% over the last year

When looking at the potential capital gains offered to property investors over the last 3 years, Newcomb comes in at number 307th in VIC.

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 Newcomb itself are offering an average vendor discount of -4.11% to real estate investors.

With the median price for a house in Newcomb being $267000 and the advertised rent reaching $267.5 the gross rental yield for property investors calculates out to be 5.21%

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First home buyers that have been priced out of East Geelong, where you are looking at spending at least $400,000 plus, are coming to Newcomb in big ways says local real estate agent Donna Ellmer-Buckingham Full summary

Newcomb sits just 3 km from downtown Geelong and next door to much pricier East Geelong, which has pockets of $700,000 homes.

First home buyers that have been priced out of East Geelong, where you are looking at spending at least $400,000 plus, are coming in big says local real estate agent Donna Ellmer-Buckingham. “So you know it’s definitely a good alternative.”

While Newcomb went flat over 2011, much of Melbourne went deep into negative territory over fears that the market had overheated. Those fears seem to have steered clear of Newcomb which grew 42% over the past 5 years, well below the average annual growth it recorded over the past 10 years and nowhere near the numbers posted in many of Melbourne’s comparable suburbs.

Location is the big draw in Newcomb as a typical ride to the city on public transport will take you just 5 minutes, yet residents also have access to the parks, farmland and open spaces to the east of the city. 

Best Street(s): Poplar St: A long block of older, well established homes tuck in a residential quieter residential area, but still featuring great access to Geelong and beaches to the south.      

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Metrics i HOUSE UNIT
$312,250 $267,000
0.73% 6.80%
7.86% -7.77%
4.99% 5.87%
$310 $268
109 21
5.16% 5.21%
60.91 48.92

Source: CoreLogic

DSR Score for property investment : Very good (H), Good (U)
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Demographics
Total population 4519
Median household income ($/weekly) 772
Median age of persons 43
Median housing loan repayment ($/monthly) 1300
Average household size 2.1
  • Census Count Percent(%)
    25-34 years 581 12.9
    35-44 years 508 11.2
    45-54 years 641 14.2
    55-64 years 524 11.6
    65-74 years 481 10.6
    Others 1784 39.5
    Age Group
    Census Count Percent(%)
    Not Married 1825 52.0
    Registered Married 1328 37.8
    Defacto Relationship 359 10.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 3561 82.6
    Japan 64 1.5
    New Zealand 51 1.2
    United Kingdom 263 6.1
    Other 91 2.1
    Others 283 6.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 47 1.2
    Christianity 2842 70.0
    Islam 17 0.4
    Other Religious Groups 17 0.4
    No Religion 1130 27.8
    Others 9 0.2
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 248 13.8
    $400-$599 309 17.2
    $600-$799 254 14.1
    $800-$999 213 11.8
    $1,500-$1,999 177 9.8
    Others 600 33.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1643 44.9
    Employed, worked full-time 1129 30.9
    Employed, worked part-time 647 17.7
    Unemployed, looking for work 124 3.4
    Employed, away from work 116 3.2
    Person Characteristics
  • Census Count Percent(%)
    Professionals 215 11.4
    Technicians & trades workers 342 18.1
    Community & personal service workers 264 13.9
    Clerical & administrative workers 212 11.2
    Labourers 312 16.5
    Others 549 29.0
    Occupation
    Census Count Percent(%)
    Infants/Primary 263 30.6
    Secondary 251 29.2
    Technical or Further Educational Institution 131 15.3
    University or other Tertiary Institutions 122 14.2
    Other type of educational institution 47 5.5
    Others 45 5.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3699 87.1
    Flat, unit or apartment 315 7.4
    Semi-detached, row or terrace house, townhouse 232 5.5
    House or flat attached to a shop, office 3 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 748 38.9
    Rented 617 32.1
    Being purchased 553 28.7
    Other tenure type 7 0.4
    Tenure Type
Census 2011, ABS
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