At number 2574th in the list of Australian suburbs ordered by increase in median house value over the last year, Geelong, 3220 is in the BOTTOM 40% with a property value increase of 2.87% recorded in median house prices.
If we look at median property appreciation over just the last three months, Geelong has given property investors a paper return of 7.73%. This puts Suburb as 47 on a list of fastest fasting appreciating suburbs in VIC
At number 271th of VIC’s most discounted properties, Geelong is in the middle of the state/territory when listing in order of most discounted to least.
Often selling an investment property can take time, and in Geelong the average time real estate has been on the market is 85.27 days.
Property investors should expect to get $392.5 weekly from the median priced house in this suburb.
Over the last year, property investments in Geelong, 3220 have given investors a capital gain of 9.79%. This compares favourably with the 4.28% for VIC as a whole.
Geelong,3220 has offered an average of 9.79% return per annum in house price rises to property investors over the last three years.
At number 57th of VIC’s most discounted properties, Geelong is in the bottom 20% of the state/territory when listing in order of most discounted to least.
Advertised rents are around the $350 mark per week – giving a return of 3.53% based on the median price in Suburb
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.