Over the last year, property investments in Spotswood, 3015 have given investors a capital gain of -9.52%. This compares very badly with the 2.87% for VIC as a whole.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Spotswood has increased when compared to the 5 year average annual rate.
Spotswood3015 is located in VIC which offers an average discount of -6.51% to property investors. Spotswood itself is showing figures that indicate -6.63% is the average achievable by property buyers investing in the suburb.
In the last year 27 properties changed hands in Spotswood, which puts it as the 540th most active market in VIC when comparing the number of sales per suburb.
Situated 7.67km from the CBD, Spotswood is one of Hobsons Bay (C) localities in the postcode 3015.
Often selling an investment property can take time, and in Spotswood the average time real estate has been on the market is 48.6364 days.
Spotswood is 246th on a list of best yielding suburbs for rents in VIC with a 3.71% return
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.