At number 3574th in the list of Australian suburbs ordered by increase in median house value over the last year, Geelong, 3220 is in the BOTTOM 20% with a property value increase of -5.74% recorded in median house prices.
Comparing Geelong,3220 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Property investors looking for a bargain in Geelong should be aiming for at least -6.13% off the asking price, which is the average vendor discount being achieved at the moment.
Often selling an investment property can take time, and in Geelong the average time real estate has been on the market is 80.27 days.
Geelong, 3220 ranked 47th in VIC when comparing growth in median property values or capital gain over the last 12 months. Geelong is one of 2098 in our list for VIC
Comparing Geelong,3220 ‘s 5year and quarterly average capital gain offered to property investors, it performed better across the longer period
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 -6.75% is being offered, which puts this VIC suburb at 334th most discounted overall in Australia.
Often selling an investment property can take time, and in Geelong the average time real estate has been on the market is 95.95 days.
Situated 57.90km from the CBD, Geelong is one of Greater Geelong localities in the postcode 3220.
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.