Property value increases in Newcomb have tracked lower than the VIC average of 8.23% over the last 12 months.
Over the longer term, Newcomb has seen property prices show investors a 6.00% return over the last 3 years. This is worse than over the last 12 months
Property buyers and investors in Newcomb 3219 should be seeing an average reduction in asking price of around -4.58% . This means that Newcomb is holding prices well when compared to other suburbs in VIC.
At number 757 in a list of fastest selling suburbs, Newcomb is in the TOP 30% of suburbs in Australia with an average of days on market 54.05 for properties listed there.
Property investors should expect to get $295 weekly from the median priced house in this suburb.
Over the last year, property investments in Newcomb, 3219 have given investors a capital gain of -9.83%. This compares very badly with the 4.09% for VIC as a whole.
While Newcomb,3219 ranked number 348th in VIC for increase in median house value (annualised) increase, it is ranked 173th over the last 5 years.
Newcomb3219 is located in VIC which offers an average discount of -5.27% to property investors. Newcomb itself is showing figures that indicate -7.77% is the average achievable by property buyers investing in the suburb.
Residents and property investors in Newcomb have been waiting around 98.2 days to sell a property.
Newcomb is 47th on a list of best yielding suburbs for rents in VIC with a 5.37% return
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.