Giving property investors a an unimpressive capital gain of -0.66% for the last year, Geelong, 3220 is the 3065th highest performer in Australia in this respect.
Over the longer term, Geelong has seen property prices show investors a 20.60% return over the last 3 years. This is worse than over the last 12 months
Vendor discounting in Geelong is giving property investors an average Vendor Discount of around -6.28%. This puts suburb at number 206th in VIC when ranking the most discounted suburbs.
Advertised rents are around the $395 mark per week – giving a return of 3.39% based on the median price in Suburb
Property value increases in Geelong have tracked higher than the VIC average of 4.26% over the last 12 months.
When looking at the potential capital gains offered to property investors over the last 3 years, Geelong comes in at number 232th in VIC.
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 Geelong, 3220. Typically our figures indicate that -6.46% is being offered, which puts this VIC suburb at 376th most discounted overall in Australia.
Geelong is 286th on a list of best yielding suburbs for rents in VIC with a 3.53% return
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.