With a capital gain of 10.91% for the last 12 months, Geelong, 3220 has performed for property investments than its average annual 6.68% property growth over the last 5 years.
Geelong,3220 was ranked 1906 in Australia by increase in median property value over the quarter.
Our latest figures would indicate that property sellers in Geelong are currently offering property investors an average price cut of -6.35% below the asking price at the moment.
Using the current median advertised rental of $380 and the average annual increase in value of a median property of 6.68%, investors should hope to achieve an overall return of 3.24%
Geelong, 3220 ranked 256th 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
Geelong,3220 has offered an average of 0.21% return per annum in house price rises to property investors over the last three years.
Sellers are offering property buyers an average discount of -6.67% to buyers in Geelong at the moment, which is less than average for the rest of VIC.
Geelong is 246th on a list of best yielding suburbs for rents in VIC with a 3.77% 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.