Over the last year, property investments in Grovedale, 3216 have given investors a capital gain of 7.50%. This compares badly with the 12.04% for VIC as a whole.
If we look at median property appreciation over just the last three months, Grovedale has given property investors a paper return of 2.38%. This puts Suburb as 359 on a list of fastest fasting appreciating suburbs in VIC
At number 536th of VIC’s most discounted properties, Grovedale is in the TOP 20% of the state/territory when listing in order of most discounted to least.
Situated 70.30km from the CBD, Grovedale is one of Greater Geelong localities in the postcode 3216.
Property value increases in Grovedale have tracked close to the VIC average of 7.53% over the last 12 months.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Grovedale has increased when compared to the 5 year average annual rate.
At number 166th of VIC’s most discounted properties, Grovedale is in the middle of the state/territory when listing in order of most discounted to least.
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
Information supplied by:
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