At number 1647th in the list of Australian suburbs ordered by increase in median house value over the last year, Newcomb, 3219 is in the top 40% with a property value increase of 6.53% recorded in median house prices.
Taking the average capital gain, or increase in median house value, Newcomb,3219 has racked up an average of 6.53% over the period. This ranks it number 2554th in the whole country for real estate investors looking at median house price increases.
Property buyers and investors in Newcomb 3219 should be seeing an average reduction in asking price of around -6.13% . This means that Newcomb is holding prices well when compared to other suburbs in VIC.
Property investors should expect to get $300 weekly from the median priced house in this suburb.
With a capital gain of -13.79% for the last 12 months, Newcomb, 3219 has performed for property investments than its average annual 5.12% property growth over the last 5 years.
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 -6.14% is being offered, which puts this VIC suburb at 442th 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.