With a capital gain of 1.22% for the last 12 months, Ringwood, 3134 has performed for property investments than its average annual 5.99% property growth over the last 5 years.
The five-year average increase in median property values for Ringwood,3134 has given property investors a potential capital gain of 25.76% across each of those five years.
The most recent median price for Ringwood is $830000, with sellers offering an average of -5.41% off the asking price.
Using the current median advertised rental of $450 and the average annual increase in value of a median property of 5.99%, investors should hope to achieve an overall return of 2.82%
Ringwood, 3134 ranked 205th in VIC when comparing growth in median property values or capital gain over the last 12 months. Ringwood is one of 2099 in our list for VIC
If we look at median property appreciation over just the last three months, Ringwood has given property investors a paper return of 1.23%. This puts Suburb as 181 on a list of fastest fasting appreciating suburbs in VIC
At number 174th of VIC’s most discounted properties, Ringwood is in the TOP 40% of the state/territory when listing in order of most discounted to least.
Residents and property investors in Ringwood have been waiting around 67.9916 days to sell a property.
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Pushing out to the far-eastern fringe of Melbourne, Ringwood’s housing market seems to be still full of steam.
At $832,500, the median house price is certainly stretching the bounds of affordability, and conditions don’t indicate buyers will find any relief soon.
The past 12 months have seen a 24% jump in the median house price, and it has also grown 55% over the past five years.
Just under 25km from the heart of Melbourne, Ringwood is somewhat of a hub for the city’s far-eastern suburbs.
The suburb is home to the Eastland Shopping Complex, which is currently undergoing extensive remodelling and is the premier retail facility in the area.
Ringwood is also home to a wide range of educational facilities and is connected to the centre of Melbourne and suburbs further out through a number of train stations.