Property investors who have had real estate in Corio, 3214 should be pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 21.31%
If we look at median property appreciation over just the last three months, Corio has given property investors a paper return of 2.78%. This puts Suburb as 131 on a list of fastest fasting appreciating suburbs in VIC
Vendor discounting in Corio is giving property investors an average Vendor Discount of around -4.91%. This puts suburb at number 438th in VIC when ranking the most discounted suburbs.
Corio, 3214 ranked 253th in VIC when comparing growth in median property values or capital gain over the last 12 months. Corio is one of 2099 in our list for VIC
Across a shorter period, Corio, 3214 has seen a median price increase of -8.49% over the last quarter.
Property buyers and investors in Corio 3214 should be seeing an average reduction in asking price of around -10.42% . This means that Corio is holding prices well when compared to other suburbs in VIC.
A $225 per week rent on the median house gives suburb investors a gross yield of circa 4.82%, without taking into account capital value appreciation, which has been averaging out at 6.17%.
One of the biggest suburbs in the Geelong area, Corio displays significant growth potential that could attract investors looking to stake a claim in VictoriaFull summary
Information supplied by:
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.Close