Property value increases in Castlemaine have tracked just higher than the VIC average of 8.96% over the last 12 months.
Taking the average capital gain, or increase in median house value, Castlemaine,3450 has racked up an average of 11.84% over the period. This ranks it number 2238th in the whole country for real estate investors looking at median house price increases.
The most recent median price for Castlemaine is $425000, with sellers offering an average of -5.35% off the asking price.
Renters in Suburb are facing rents around $3840 per annum or $320 every week.
Over the last year, property investments in Castlemaine, 3450 have given investors a capital gain of 7.26%. This compares favourably with the 4.26% for VIC as a whole.
The five-year average increase in median property values for Castlemaine,3450 has given property investors a potential capital gain of 23.84% across each of those five years.
Vendor discounting in Castlemaine is giving property investors an average Vendor Discount of around -3.70%. This puts suburb at number 253th in VIC when ranking the most discounted suburbs.
Advertised rents are around the $287.5 mark per week – giving a return of 4.50% based on the median price in Suburb
Castlemaine is located 38km south of Bendigo and 120km northwest of Melbourne. Once a gold mining town, Castlemaine’s economic activity now centres around manufacturing, agriculture and tourism, with its goldrush era architecture and history being major drawcards for visitors.Full summary
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Castlemaine is located 38km south of Bendigo and 120km northwest of Melbourne. Once a gold mining town, Castlemaine’s economic activity now centres around manufacturing, agriculture and tourism, with its goldrush era architecture and history being major drawcards for visitors.
It’s also conveniently located at the junction of several major highways which lead to the major urban hubs of Bendigo, Ballarat and Melbourne amongst others. Castlemaine also benefits from having its own railway station, making the train journey to Bendigo less than 30 minutes long, and Melbourne a little over an hour and a half in duration.