If you compare the increase in value of investment property in Ocean Grove, 3226 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 7.62%.
While Ocean Grove,3226 ranked number 431th in VIC for increase in median house value (annualised) increase, it is ranked 423th over the last 5 years.
Vendor discounting in Ocean Grove is giving property investors an average Vendor Discount of around -6.24%. This puts suburb at number 227th in VIC when ranking the most discounted suburbs.
At number 2410 in a list of fastest selling suburbs, Ocean Grove is in the bottom 40% of suburbs in Australia with an average of days on market 94.19 for properties listed there.
Situated 61.65km from the CBD, Ocean Grove is one of Greater Geelong localities in the postcode 3226.
Giving property investors a a solid capital gain of 12.69% for the last year, Ocean Grove, 3226 is the 287th highest performer in Australia in this respect.
The five-year average increase in median property values for Ocean Grove,3226 has given property investors a potential capital gain of 24.55% across each of those five years.
Property investors looking for a bargain in Ocean Grove should be aiming for at least -5.17% off the asking price, which is the average vendor discount being achieved at the moment.
Ocean Grove is 236th on a list of best yielding suburbs for rents in VIC with a 3.85% return