Over the last year, property investments in Corio, 3214 have given investors a capital gain of 4.29%. This compares favourably with the -1.05% for VIC as a whole.
Corio,3214 was ranked 2717 in Australia by increase in median property value over the quarter.
LACK OF BUYER INTEREST may well be the reason that Corio is offering property investors an average of -6.64. This rate of discount on properties puts Suburb at number 166th in terms of most discounted suburbs in VIC
Corio, 3214’s gross rental yield is 4.27%
With a capital gain of 7.85% for the last 12 months, Corio, 3214 has performed for property investments than its average annual 6.42% property growth over the last 5 years.
The five-year average increase in median property values for Corio,3214 has given property investors a potential capital gain of 23.45% across each of those five years.
With the median price for a house in Corio being $298750 and the advertised rent reaching $250 the gross rental yield for property investors calculates out to be 4.35%
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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.