Over the last year, property investments in Geelong, 3220 have given investors a capital gain of 12.33%. This compares favourably with the 8.23% for VIC as a whole.
The five-year average increase in median property values for Geelong,3220 has given property investors a potential capital gain of 22.42% across each of those five years.
Sellers are offering property buyers an average discount of -5.49% to buyers in Geelong at the moment, which is less than average for the rest of VIC.
A $380 per week rent on the median house gives suburb investors a gross yield of circa 3.26%, without taking into account capital value appreciation, which has been averaging out at 6.74%.
Giving property investors a a poor capital gain of -4.55% for the last year, Geelong, 3220 is the 1406th highest performer in Australia in this respect.
Geelong,3220 has offered an average of -4.55% return per annum in house price rises to property investors over the last three years.
Property buyers and investors in Geelong 3220 should be seeing an average reduction in asking price of around -6.40% . This means that Geelong is holding prices well when compared to other suburbs in VIC.
It’s no surprise that Geelong made Your Investment Property's top 100 in 2012, as this is one town that’s being spoken of with high regard in the property investment world Full summary
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It’s no surprise that Geelong made Your Investment Property's top 100 in 2011, as this is one town that’s being spoken of with high regard in the property investment world.
Looking ahead, the completion of the first stages of the $380m Geelong Ring Road and the mooted regional rail upgrade are expected to attract more Melburnians to this cheaper, quieter satellite city.
“The Geelong ring road has also been under construction for a couple of years,” says hotspotting.com.au founder Terry Ryder. “Geelong used to be a huge traffic bottle neck, so it’s more conceivable for people to live in Geelong and work in Melbourne.”
With median prices creeping up towards outer-Melbourne territory, there are question marks over its long-term growth prospects. That said, its medium-term outlook is strong, but keep an eye on whether local and state government initiatives succeed in putting Geelong on the map as a strong regional employment hub in its own right.