Newcomb has had a quite poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of 4.81% to date .
The five-year average increase in median property values for Newcomb,3219 has given property investors a potential capital gain of 10.71% across each of those five years.
Our latest figures would indicate that property sellers in Newcomb are currently offering property investors an average price cut of -6.10% below the asking price at the moment.
At number 666 in a list of fastest selling suburbs, Newcomb is in the TOP 20% of suburbs in Australia with an average of days on market 54.49 for properties listed there.
Property investors should expect to get $300 weekly from the median priced house in this suburb.
Giving property investors a a poor capital gain of -13.79% for the last year, Newcomb, 3219 is the 1637th highest performer in Australia in this respect.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Newcomb has increased when compared to the 5 year average annual rate.
Our latest figures would indicate that property sellers in Newcomb are currently offering property investors an average price cut of -6.42% below the asking price at the moment.
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.