Property value increases in Collingwood have tracked lower than the VIC average of -1.69% over the last 12 months.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Collingwood has increased when compared to the 5 year average annual rate.
LACK OF BUYER INTEREST may well be the reason that Collingwood is offering property investors an average of -6.82. This rate of discount on properties puts Suburb at number 366th in terms of most discounted suburbs in VIC
A $650 per week rent on the median house gives suburb investors a gross yield of circa 3.84%, without taking into account capital value appreciation, which has been averaging out at 5.14%.
VIC has seen average median house prices change by 0.10% which means that Collingwood, 3066 has done well for property investors by showing a capital gain of 7.26% over the last year
A 1.33% growth in median value for property investors in Collingwood,3066 puts this suburb at number 86th in terms of best performing suburbs in VIC
At number 218th of VIC’s most discounted properties, Collingwood is in the TOP 20% of the state/territory when listing in order of most discounted to least.
In the last year 134 properties changed hands in Collingwood, which puts it as the 33th most active market in VIC when comparing the number of sales per suburb.
Advertised rents are around the $515 mark per week – giving a return of 4.68% based on the median price in Suburb
Information supplied by:
Alana Coleman & Gillian Powell
Caine Real Estate
Investment property in Suburb has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 9.98%
Comparing Collingwood,3066 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -8.56% offered to property buyers. Sellers in Collingwood itself are offering an average vendor discount of -7.82% to real estate investors.
On average over the past year, suburb has had 5.25 sales per month, which equates to 63 per year.
With the median price for a house in Collingwood being $730000 and the advertised rent reaching $520 the gross rental yield for property investors calculates out to be 3.70%
Selling points: 3km to CBD, one of the oldest suburbs in Melbourne, divers culture & shopping, historic buildings, 19th century dwellings.
Most sought-after properties: Warehouse conversions
Most common properties: Terraces (houses) and warehouse conversions.
Top amenities: Cafe's, Restaurants, transport link, close to gent CBD
Local industry and business: Close to EM medical, Administration Capital
Recent Changes: New developments in stanley street
Best streets: Oxford street, Stanley Street, Combridge street
Public transport: Trams on smith street/gertrude st melbourne, johnson st/ Peel st. etc.
Main arteries: Collingwood train station