Property value increases in Grovedale have tracked just higher than the VIC average of 8.91% over the last 12 months.
The five-year average increase in median property values for Grovedale,3216 has given property investors a potential capital gain of 34.31% across each of those five years.
At number 524th of VIC’s most discounted properties, Grovedale is in the TOP 30% of the state/territory when listing in order of most discounted to least.
On average over the past year, suburb has had 21.83 sales per month, which equates to 262 per year.
Advertised rents are around the $370 mark per week – giving a return of 4.18% based on the median price in Suburb
Property investors who have had real estate in Grovedale, 3216 should be pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 12.00%
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.
LACK OF BUYER INTEREST may well be the reason that Grovedale is offering property investors an average of -4.60. This rate of discount on properties puts Suburb at number 132th in terms of most discounted suburbs in VIC
Using the current median advertised rental of $310 and the average annual increase in value of a median property of 4.01%, investors should hope to achieve an overall return of 4.61%
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