Investment property in Spotswood has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -9.70%
When looking at the potential capital gains offered to property investors over the last 3 years, Spotswood comes in at number 454th in VIC.
In the last year 30 properties changed hands in Spotswood, which puts it as the 505th most active market in VIC when comparing the number of sales per suburb.
Information supplied by:
Peak growth increases occupancies
Median unit price: $629,000
Vacancy rate: 1.8%
Three-year growth: 21.1%
The small suburb of Spotswood in Melbourne’s inner west recorded remarkable levels of demand over the past year that have led to the average vacancy rate sliding from 3% all the way down to 1.8%.
House values soared by 30% in the year leading up to December 2017 alone. The average annual growth rate is a remarkable 12.3%, indicating the incredible potential of this suburb. This is a likely contributor to occupancies tightening here.
The Geelong railway line runs along Spotswood’s western boundary and stops at the Spotswood station. The suburb is also bounded by the West Gate Freeway in the north – thus, Spotswood is a very convenient area. Spotswood is just 7km from the Melbourne CBD, and it is known as the site of the Victorian Science Museum, which is also called Scienceworks.