Caroline Springs is an average performer in VIC when comparing median price capital growth over the last year. Caroline Springs gave property investors a good capital gain figure when compared to the rest of the state, with 4.10%.
Across a shorter period, Caroline Springs, 3023 has seen a median price increase of 3.25% over the last quarter.
Our latest figures would indicate that property sellers in Caroline Springs are currently offering property investors an average price cut of -5.73% below the asking price at the moment.
The VIC suburb of Caroline Springs, 3023 is in the Melton (C) local government area.
Caroline Springs has had a pretty good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 8.72% to date .
Caroline Springs,3023 has offered an average of 8.72% return per annum in house price rises to property investors over the last three years.
At number 417 in a list of fastest selling suburbs, Caroline Springs is in the TOP 40% of suburbs in Australia with an average of days on market 66.125 for properties listed there.
Advertised rents are around the $400 mark per week – giving a return of 4.33% based on the median price in Suburb
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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.