Property value increases in Newcomb have tracked lower than the VIC average of 7.80% over the last 12 months.
Newcomb,3219 was ranked 2922 in Australia by increase in median property value over the quarter.
Sellers are offering property buyers an average discount of -5.12% to buyers in Newcomb at the moment, which is less than average for the rest of VIC.
Situated 63.61km from the CBD, Newcomb is one of Greater Geelong localities in the postcode 3219.
Newcomb is in the bottom 10% in VIC when comparing median price capital growth over the last year. Newcomb gave property investors a dismal capital gain figure when compared to the rest of the state, with -12.07%.
Newcomb,3219 was ranked 1319 in Australia by increase in median property value over the quarter.
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 Newcomb, 3219. Typically our figures indicate that -6.70% is being offered, which puts this VIC suburb at 321th most discounted overall in Australia.
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.