VIC has seen average median house prices change by 9.78% which means that Newcomb, 3219 has done well for property investors by showing a capital gain of 8.19% over the last year
Across a shorter period, Newcomb, 3219 has seen a median price increase of 2.44% over the last quarter.
Our latest figures would indicate that property sellers in Newcomb are currently offering property investors an average price cut of -7.40% below the asking price at the moment.
In the last year 104 properties changed hands in Newcomb, which puts it as the 252th most active market in VIC when comparing the number of sales per suburb.
Renters in Suburb are facing rents around $3720 per annum or $310 every week.
Newcomb has had a pretty average year for property investment returns compared to the rest of VIC, giving investors a capital gain of 5.22% to date .
If we look at median property appreciation over just the last three months, Newcomb has given property investors a paper return of 7.02%. This puts Suburb as 38 on a list of fastest fasting appreciating suburbs in VIC
Property buyers and investors in Newcomb 3219 should be seeing an average reduction in asking price of around -3.57% . This means that Newcomb is holding prices well when compared to other suburbs in VIC.
Residents and property investors in Newcomb have been waiting around 57.42 days to sell a property.
The VIC suburb of Newcomb, 3219 is in the Greater Geelong local government area.
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
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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.