VIC has seen average median house prices change by 8.06% which means that Ocean Grove, 3226 has done well for property investors by showing a capital gain of 7.69% over the last year
If we look at median property appreciation over just the last three months, Ocean Grove has given property investors a paper return of 1.82%. This puts Suburb as 380 on a list of fastest fasting appreciating suburbs in VIC
At number 224th of VIC’s most discounted properties, Ocean Grove is in the bottom 40% of the state/territory when listing in order of most discounted to least.
At number 2802 in a list of fastest selling suburbs, Ocean Grove is in the bottom 30% of suburbs in Australia with an average of days on market 105.62 for properties listed there.
Advertised rents are around the $380 mark per week – giving a return of 3.53% based on the median price in Suburb
Giving property investors a an average capital gain of 0.57% for the last year, Ocean Grove, 3226 is the 1020th highest performer in Australia in this respect.
Ocean Grove,3226 was ranked 819 in Australia by increase in median property value over the quarter.
Property buyers and investors in Ocean Grove 3226 should be seeing an average reduction in asking price of around -4.96% . This means that Ocean Grove is holding prices well when compared to other suburbs in VIC.
On average over the past year, suburb has had 5.08 sales per month, which equates to 61 per year.
With the median price for a house in Ocean Grove being $442500 and the advertised rent reaching $342.5 the gross rental yield for property investors calculates out to be 4.02%