Giving property investors a an average capital gain of -1.39% for the last year, Corio, 3214 is the 1953th highest performer in Australia in this respect.
Over the longer term, Corio has seen property prices show investors a 47.30% return over the last 3 years. This is worse than over the last 12 months
The most recent median price for Corio is $355000, with sellers offering an average of -8.27% off the asking price.
Situated 60.49km from the CBD, Corio is one of Greater Geelong (C) localities in the postcode 3214.
Over the last year, property investments in Corio, 3214 have given investors a capital gain of 16.98%. This compares very favourably with the 0.68% for VIC as a whole.
The five-year average increase in median property values for Corio,3214 has given property investors a potential capital gain of 28.10% across each of those five years.
Sellers are offering property buyers an average discount of -9.44% to buyers in Corio at the moment, which is less than average for the rest of VIC.
Using the current median advertised rental of $255 and the average annual increase in value of a median property of 6.36%, investors should hope to achieve an overall return of 4.28%
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Affordability lifts Geelong suburb
Median unit price: $242,000
Three-year growth: 15.2%
Rental yield: 4.7%
One of the biggest suburbs in the Geelong area, Corio displays significant growth potential that could attract investors looking to stake a claim in Victoria.
The low price tag certainly does not hurt, with Corio apartments coming in at a median price of under $250,000. This is accompanied by spikes in growth over the past five years leading up to December 2017 – in the December 2017 quarter alone, the suburb recorded a 7.6% increase in prices. Rental returns are strong as well at an average of 4.7%.
Corio is primarily a residential and industrial suburb, and is well located just 9km from the Geelong CBD. It is home to the Corio Shopping Centre, and is served by the Corio railway station.