At number 4023th in the list of Australian suburbs ordered by increase in median house value over the last year, Collingwood, 3066 is in the BOTTOM 10% with a property value increase of -15.76% recorded in median house prices.
Collingwood,3066 was ranked 1625 in Australia by increase in median property value over the quarter.
Sellers are offering property buyers an average discount of -4.71% to buyers in Collingwood at the moment, which is less than average for the rest of VIC.
At number 1294 in a list of fastest selling suburbs, Collingwood is in the TOP 40% of suburbs in Australia with an average of days on market 60.3429 for properties listed there.
A $650 per week rent on the median house gives suburb investors a gross yield of circa 3.58%, without taking into account capital value appreciation, which has been averaging out at 6.97%.
VIC has seen average median house prices change by 1.93% which means that Collingwood, 3066 has done well for property investors by showing a capital gain of -8.18% over the last year
Across a shorter period, Collingwood, 3066 has seen a median price increase of 3.43% over the last quarter.
Property buyers and investors in Collingwood 3066 should be seeing an average reduction in asking price of around -4.35% . This means that Collingwood is holding prices well when compared to other suburbs in VIC.
At number 615 in a list of fastest selling suburbs, Collingwood is just in the top half of suburbs in Australia with an average of days on market 68.5769 for properties listed there.
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