VIC has seen average median house prices change by 10.83% which means that Newcomb, 3219 has done well for property investors by showing a capital gain of 10.34% over the last year
Taking the average capital gain, or increase in median house value, Newcomb,3219 has racked up an average of 10.34% over the period. This ranks it number 2531th in the whole country for real estate investors looking at median house price increases.
Our latest figures would indicate that property sellers in Newcomb are currently offering property investors an average price cut of -5.53% below the asking price at the moment.
Advertised rents are around the $310 mark per week – giving a return of 4.95% based on the median price in Suburb
With a capital gain of 12.28% for the last 12 months, Newcomb, 3219 has performed for property investments than its average annual 6.44% property growth over the last 5 years.
Taking the average capital gain, or increase in median house value, Newcomb,3219 has racked up an average of 12.28% over the period. This ranks it number 1117th in the whole country for real estate investors looking at median house price increases.
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 -3.69% is being offered, which puts this VIC suburb at 1099th most discounted overall in Australia.
Often selling an investment property can take time, and in Newcomb the average time real estate has been on the market is 54.77 days.
Renters in Suburb are facing rents around $3420 per annum or $285 every week.
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.