Over the last year, property investments in Newcomb, 3219 have given investors a capital gain of 8.62%. This compares averagely with the 9.04% for VIC as a whole.
The five-year average increase in median property values for Newcomb,3219 has given property investors a potential capital gain of 14.55% across each of those five 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 -6.70% is being offered, which puts this VIC suburb at 1340th most discounted overall in Australia.
Renters in Suburb are facing rents around $3720 per annum or $310 every week.
VIC has seen average median house prices change by 4.28% which means that Newcomb, 3219 has done well for property investors by showing a capital gain of -1.79% over the last year
Across a shorter period, Newcomb, 3219 has seen a median price increase of 10.00% over the last quarter.
Newcomb3219 is located in VIC which offers an average discount of -5.03% to property investors. Newcomb itself is showing figures that indicate -3.99% is the average achievable by property buyers investing in the suburb.
Advertised rents are around the $270 mark per week – giving a return of 5.11% based on the median price in Suburb
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
Information supplied by:
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.