Investment property in Geelong has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 14.75%
The five-year average increase in median property values for Geelong,3220 has given property investors a potential capital gain of 51.35% across each of those five years.
Geelong3220 is located in VIC which offers an average discount of -5.14% to property investors. Geelong itself is showing figures that indicate -6.39% is the average achievable by property buyers investing in the suburb.
VIC has seen average median house prices change by 5.66% which means that Geelong, 3220 has done well for property investors by showing a capital gain of 7.14% over the last year
A 10.76% growth in median value for property investors in Geelong,3220 puts this suburb at number 176th in terms of best performing suburbs in VIC
Our latest figures would indicate that property sellers in Geelong are currently offering property investors an average price cut of -7.08% below the asking price at the moment.
On average over the past year, suburb has had 3.42 sales per month, which equates to 41 per year.
Geelong, 3220’s gross rental yield is 3.47%
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.