Ocean Grove is in the bottom 40% in VIC when comparing median price capital growth over the last year. Ocean Grove gave property investors a disappointing capital gain figure when compared to the rest of the state, with 7.37%.
Over the longer term, Ocean Grove has seen property prices show investors a 16.09% return over the last 3 years. This is worse than over the last 12 months
Our latest figures would indicate that property sellers in Ocean Grove are currently offering property investors an average price cut of -4.85% below the asking price at the moment.
Renters in Suburb are facing rents around $4800 per annum or $400 every week.
With a capital gain of -6.91% for the last 12 months, Ocean Grove, 3226 has performed for property investments than its average annual 4.51% property growth over the last 5 years.
The five-year average increase in median property values for Ocean Grove,3226 has given property investors a potential capital gain of 16.67% across each of those five years.
Sellers are offering property buyers an average discount of -3.27% to buyers in Ocean Grove at the moment, which is less than average for the rest of VIC.
Using the current median advertised rental of $350 and the average annual increase in value of a median property of 4.51%, investors should hope to achieve an overall return of 4.00%