VIC has seen average median house prices change by 8.12% which means that Geelong, 3220 has done well for property investors by showing a capital gain of -6.56% over the last year
Geelong,3220 has offered an average of -6.56% return per annum in house price rises to property investors over the last three years.
The most recent median price for Geelong is $570000, with sellers offering an average of -6.24% off the asking price.
The VIC suburb of Geelong, 3220 is in the Greater Geelong local government area.
Property value increases in Geelong have tracked close to the VIC average of 2.98% over the last 12 months.
A -3.72% growth in median value for property investors in Geelong,3220 puts this suburb at number 332th in terms of best performing suburbs 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 -6.60% is being offered, which puts this VIC suburb at 354th most discounted overall in Australia.
Situated 55.69km 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.