Geelong is in the bottom 40% in VIC when comparing median price capital growth over the last year. Geelong gave property investors a disappointing capital gain figure when compared to the rest of the state, with 6.77%.
The five-year average increase in median property values for Geelong,3220 has given property investors a potential capital gain of 26.24% across each of those five years.
Geelong, 3220 is offering VIC ‘s 303th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this VIC.
Residents and property investors in Geelong have been waiting around 74.22 days to sell a property.
Property investors should expect to get $395 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 3.16%. This compares averagely with the 4.83% for VIC as a whole.
Taking the average capital gain, or increase in median house value, Geelong,3220 has racked up an average of 3.16% over the period. This ranks it number 1217th in the whole country for real estate investors looking at median house price increases.
Geelong3220 is located in VIC which offers an average discount of -4.95% to property investors. Geelong itself is showing figures that indicate -6.24% is the average achievable by property buyers investing in the suburb.
At number 1345 in a list of fastest selling suburbs, Geelong is in the bottom 10% of suburbs in Australia with an average of days on market 124.64 for properties listed there.
Geelong is 256th on a list of best yielding suburbs for rents in VIC with a 3.66% 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.