Collingwood is in the bottom 20% in VIC when comparing median price capital growth over the last year. Collingwood gave property investors a dismal capital gain figure when compared to the rest of the state, with 3.60%.
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.
At number 1792 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 61.125 for properties listed there.
Renters in Suburb are facing rents around $33800 per annum or $650 every week.
Property value increases in Collingwood have tracked just higher than the VIC average of 5.71% over the last 12 months.
Over the longer term, Collingwood has seen property prices show investors a 8.10% return over the last 3 years. This is an improvement over the last 12 months
Collingwood, 3066 is offering VIC ‘s 66th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this VIC.
Often selling an investment property can take time, and in Collingwood the average time real estate has been on the market is 57.9275 days.
Renters in Suburb are facing rents around $23920 per annum or $460 every week.
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