Newcomb is an average performer in VIC when comparing median price capital growth over the last year. Newcomb gave property investors a average capital gain figure when compared to the rest of the state, with 6.90%.
Taking the average capital gain, or increase in median house value, Newcomb,3219 has racked up an average of 6.90% over the period. This ranks it number 2773th in the whole country for real estate investors looking at median house price increases.
Sellers are offering property buyers an average discount of -6.40% to buyers in Newcomb at the moment, which is less than average for the rest of VIC.
On average over the past year, suburb has had 9.25 sales per month, which equates to 111 per year.
A $300 per week rent on the median house gives suburb investors a gross yield of circa 5.03%, without taking into account capital value appreciation, which has been averaging out at 5.23%.
Over the last year, property investments in Newcomb, 3219 have given investors a capital gain of -13.79%. This compares very badly with the 3.49% for VIC as a whole.
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 -5.91% is being offered, which puts this VIC suburb at 536th most discounted overall in Australia.
On average over the past year, suburb has had 1.58 sales per month, which equates to 19 per year.
Renters in Suburb are facing rents around $3240 per annum or $270 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.