At number 1550th in the list of Australian suburbs ordered by increase in median house value over the last year, Ocean Grove, 3226 is in the top 40% with a property value increase of 7.04% recorded in median house prices.
While Ocean Grove,3226 ranked number 353th in VIC for increase in median house value (annualised) increase, it is ranked 347th over the last 5 years.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.04% offered to property buyers. Sellers in Ocean Grove itself are offering an average vendor discount of -6.65% to real estate investors.
The VIC suburb of Ocean Grove, 3226 is in the Greater Geelong local government area.
If you compare the increase in value of investment property in Ocean Grove, 3226 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this VIC suburb was 2.38%.
A 11.69% growth in median value for property investors in Ocean Grove,3226 puts this suburb at number 361th in terms of best performing suburbs in VIC
Our latest figures would indicate that property sellers in Ocean Grove are currently offering property investors an average price cut of -5.15% below the asking price at the moment.
On average over the past year, suburb has had 5.67 sales per month, which equates to 68 per year.
Property investors should expect to get $330 weekly from the median priced house in this suburb.