If you compare the increase in value of investment property in Grovedale, 3216 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 13.69%.
A 36.43% growth in median value for property investors in Grovedale,3216 puts this suburb at number 105th in terms of best performing suburbs in VIC
Sellers are offering property buyers an average discount of -3.65% to buyers in Grovedale at the moment, which is less than average for the rest of VIC.
Property investors should expect to get $375 weekly from the median priced house in this suburb.
Investment property in Grovedale has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 8.28%
The five-year average increase in median property values for Grovedale,3216 has given property investors a potential capital gain of 26.13% across each of those five years.
Sellers are offering property buyers an average discount of -4.71% to buyers in Grovedale at the moment, which is less than average for the rest of VIC.
Grovedale has attracted strong interest from investors, in large part due to its high average returns of over 5%, which suggests a strong rental market.Full summary
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Former Germantown draws interest from student body
Median unit price: $299,000
Three-year growth: 2.66%
Rental yield: 5.22%
The residential suburb of Grovedale has appealed to investors for many years, with its high average returns of over 5% suggesting a strong rental market. In the past year up to April 2017, apartment values jumped by nearly 11%.
This trend has continued into the April 2017 quarter, indicating that the suburb has long-term potential. Units go off the market at low discount rates as well. This is likely because of the demand from students at Deakin University.
Grovedale is quite accessible due to its location on the Surfcoast Highway, in addition to being less than 10 minutes from Torquay. The Surf Coast itself is a short drive away. The suburb is affordable as well, with the median unit price coming in at under $300,000. Close