Giving property investors a an unimpressive capital gain of -0.09% for the last year, Newcomb, 3219 is the 2918th highest performer in Australia in this respect.
The five-year average increase in median property values for Newcomb,3219 has given property investors a potential capital gain of 5.34% 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 -4.47% below the asking price at the moment.
At number 656 in a list of fastest selling suburbs, Newcomb is in the TOP 20% of suburbs in Australia with an average of days on market 52.37 for properties listed there.
Newcomb, 3219’s gross rental yield is 5.37%
Investment property in Newcomb has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -10.00%
A 8.75% growth in median value for property investors in Newcomb,3219 puts this suburb at number 345th in terms of best performing suburbs in VIC
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.33% offered to property buyers. Sellers in Newcomb itself are offering an average vendor discount of -6.44% to real estate investors.
Residents and property investors in Newcomb have been waiting around 93.66 days to sell a property.
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.