Corio has had a A very good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 14.11% to date .
Across a shorter period, Corio, 3214 has seen a median price increase of 0.54% over the last quarter.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.14% offered to property buyers. Sellers in Corio itself are offering an average vendor discount of -6.30% to real estate investors.
Advertised rents are around the $300 mark per week – giving a return of 4.19% based on the median price in Suburb
Corio has had a A very good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 16.04% to date .
Corio,3214 was ranked 35 in Australia by increase in median property value over the quarter.
On average over the past year, suburb has had 1.08 sales per month, which equates to 13 per year.
Using the current median advertised rental of $240 and the average annual increase in value of a median property of 6.56%, investors should hope to achieve an overall return of 4.06%
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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.