Investment property in Caroline Springs has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 13.49%
Caroline Springs,3023 was ranked 1082 in Australia by increase in median property value over the quarter.
Property buyers and investors in Caroline Springs 3023 should be seeing an average reduction in asking price of around -4.61% . This means that Caroline Springs is holding prices well when compared to other suburbs in VIC.
Residents and property investors in Caroline Springs have been waiting around 53.33 days to sell a property.
Giving property investors a an average capital gain of 4.43% for the last year, Caroline Springs, 3023 is the 860th highest performer in Australia in this respect.
If we look at median property appreciation over just the last three months, Caroline Springs has given property investors a paper return of 2.23%. This puts Suburb as 171 on a list of fastest fasting appreciating suburbs in VIC
Vendor discounting in Caroline Springs is giving property investors an average Vendor Discount of around -4.42%. This puts suburb at number 148th in VIC when ranking the most discounted suburbs.
Take a look 25km west of Melbourne’s CBD and you will find a suburb that’s got a lot of things going for it.Full summary
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Take a look 25km west of Melbourne’s CBD and you will find a suburb that’s got a lot of things going for it.
Towards the north of Caroline Springs is the town square and main shopping centre. But as the name suggests, its natural beauty is a key drawcard of this suburb. In particular, the Kororoit Creek runs through the centre of the suburb which is home to some beautiful and rare plants and animals.
There are also great walking tracks, not to mention its sought-after parks and lakes.
Moving on to the popular amenities unrelated to the outdoors, there is also a good range of shops, cafés, restaurants and medical facilities within the suburb.
At the moment, the suburb’s main form of transport is car, however, a new V/Line train station at Caroline Springs is on track to be completed in 2016. Demand is already strong as shown by the vacancy rate of just 1.57%. Moreover, Onthehouse.com.au is predicting a strong 7% p.a growth over the next eight years.
Families who target this area would benefit from buying in streets such as Tumbalong St and Pyrmont Ln. Not only are they situated in a quiet area but they are in close proximity to schools, the town centre, restaurants, lakes and public transport. Three-bedroom houses in this area can be picked up for less than $500,000.