Property value increases in Corio have tracked lower than the VIC average of 4.41% over the last 12 months.
While Corio,3214 ranked number 316th in VIC for increase in median house value (annualised) increase, it is ranked 173th over the last 5 years.
Sellers are offering property buyers an average discount of -7.02% to buyers in Corio at the moment, which is less than average for the rest of VIC.
Often selling an investment property can take time, and in Corio the average time real estate has been on the market is 61.8019 days.
With the median price for a house in Corio being $360000 and the advertised rent reaching $320 the gross rental yield for property investors calculates out to be 4.62%
VIC has seen average median house prices change by 7.35% which means that Corio, 3214 has done well for property investors by showing a capital gain of 0.00% over the last year
Corio,3214 has offered an average of 0.00% return per annum in house price rises to property investors over the last three years.
In the last year 20 properties changed hands in Corio, which puts it as the 295th most active market in VIC when comparing the number of sales per suburb.
A $262.5 per week rent on the median house gives suburb investors a gross yield of circa 4.44%, without taking into account capital value appreciation, which has been averaging out at 4.80%.
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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.