Property value increases in Golden Point have tracked just higher than the VIC average of 6.28% over the last 12 months.
The five-year average increase in median property values for Golden Point,3350 has given property investors a potential capital gain of 25.94% across each of those five years.
Sellers are offering property buyers an average discount of -4.99% to buyers in Golden Point at the moment, which is less than average for the rest of VIC.
On average over the past year, suburb has had 5.42 sales per month, which equates to 65 per year.
A $280 per week rent on the median house gives suburb investors a gross yield of circa 4.35%, without taking into account capital value appreciation, which has been averaging out at 5.74%.
With a capital gain of 22.50% for the last 12 months, Golden Point, 3350 has performed for property investments than its average annual 5.51% property growth over the last 5 years.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Golden Point has increased when compared to the 5 year average annual rate.
Bordered by the Yarrowee River, Golden Point is suburb of Ballarat, situated around 100km from Melbourne. Housing stock in this suburb is largely comprised of charming brick homes, terraces houses and art deco residencesFull summary
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Affordable suburb draws interest
Median house price: $295,000
Three-year growth: 13.9%
Rental yield: 4.8%
Bordered by the Yarrowee River, Golden Point is suburb of Ballarat, situated around 100km from Melbourne. Housing stock in this suburb is largely comprised of charming brick homes, terraces houses and art deco residences.
Residents are close to employment, with Golden Point – which was once known as Poverty Point – providing inner city living with ready access to public transport, whilst also being within walking distance of the central business district. It is also home to the popular tourism destination Sovereign Hill Historic Park, an open-air museum depicting the gold rush.
For investors, there may be opportunities to add value by renovating homes built 70 years earlier, and for those looking for development opportunities, there may be homes in the area suited to subdivision and development.Close