Property investors who have had real estate in Newtown, 3220 should be relatively pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 8.00%
If we look at median property appreciation over just the last three months, Newtown has given property investors a paper return of 2.34%. This puts Suburb as 301 on a list of fastest fasting appreciating suburbs in VIC
Property investors looking for a bargain in Newtown should be aiming for at least -6.48% off the asking price, which is the average vendor discount being achieved at the moment.
With the median price for a house in Newtown being $688500 and the advertised rent reaching $390 the gross rental yield for property investors calculates out to be 2.95%
Giving property investors a a solid capital gain of 20.00% for the last year, Newtown, 3220 is the 109th highest performer in Australia in this respect.
Across a shorter period, Newtown, 3220 has seen a median price increase of 0.60% over the last quarter.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.14% offered to property buyers. Sellers in Newtown itself are offering an average vendor discount of -6.55% to real estate investors.
The VIC suburb of Newtown, 3220 is in the Greater Geelong local government area.