If you compare the increase in value of investment property in Bell Park, 3215 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 13.01%.
Bell Park,3215 has offered an average of 13.01% return per annum in house price rises to property investors over the last three years.
Property investors looking for a bargain in Bell Park should be aiming for at least -2.81% off the asking price, which is the average vendor discount being achieved at the moment.
The VIC suburb of Bell Park, 3215 is in the Greater Geelong local government area.
Over the last year, property investments in Bell Park, 3215 have given investors a capital gain of 6.65%. This compares averagely with the 8.36% for VIC as a whole.
Bell Park,3215 has offered an average of 6.65% return per annum in house price rises to property investors over the last three years.
LACK OF BUYER INTEREST may well be the reason that Bell Park is offering property investors an average of -4.67. This rate of discount on properties puts Suburb at number 165th in terms of most discounted suburbs in VIC
With the median price for a house in Bell Park being $345000 and the advertised rent reaching $320 the gross rental yield for property investors calculates out to be 4.82%
Bell Park is 5km north of the Geelong CBD, and 60km west of the centre of Melbourne. It is situated within easy reach of the Geelong Ring Road which leads directly onto the Princes Freeway, and is just a few streets away from Norlane and North Geelong rail stations.Full summary
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Bell Park is 5km north of the Geelong CBD, and 60km west of the centre of Melbourne. It is situated within easy reach of the Geelong Ring Road which leads directly onto the Princes Freeway, and is just a few streets away from Norlane and North Geelong rail stations.
It is within easy reach of a wide range of amenities, with three shopping strips in the suburb, and there are numerous schools in the area. It is also within easy reach of the beach.
Bell Park compares well to neighbouring suburbs: its median price is $5,000 less than neighbouring Bell Post Hill, and $10,000 more affordable than North Geelong. Average weekly incomes are marginally below the Victorian median, with a large proportion of families; residents have a wide range of occupations.
Like other northern Geelong suburbs, capital growth prospects are good due to Melbourne commuters choosing it as an affordable option compared to the state capital.