Caroline Springs, 3023 ranked 345th in VIC when comparing growth in median property values or capital gain over the last 12 months. Caroline Springs is one of 2098 in our list for VIC
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Caroline Springs has increased when compared to the 5 year average annual rate.
Caroline Springs3023 is located in VIC which offers an average discount of -5.39% to property investors. Caroline Springs itself is showing figures that indicate -4.56% is the average achievable by property buyers investing in the suburb.
On average over the past year, suburb has had 29.08 sales per month, which equates to 349 per year.
Caroline Springs is 246th on a list of best yielding suburbs for rents in VIC with a 3.45% return
At number 402th in the list of Australian suburbs ordered by increase in median house value over the last year, Caroline Springs, 3023 is in the top 30% with a property value increase of 9.61% recorded in median house prices.
Caroline Springs,3023 has offered an average of 9.61% return per annum in house price rises to property investors over the last three years.
Property buyers and investors in Caroline Springs 3023 should be seeing an average reduction in asking price of around -5.53% . This means that Caroline Springs is holding prices well when compared to other suburbs in VIC.
Renters in Suburb are facing rents around $20280 per annum or $390 every week.
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.