Property investors who have had real estate in Bell Park, 3215 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 8.86%
A 46.83% growth in median value for property investors in Bell Park,3215 puts this suburb at number 72th in terms of best performing suburbs in VIC
State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.90% offered to property buyers. Sellers in Bell Park itself are offering an average vendor discount of -5.07% to real estate investors.
On average over the past year, suburb has had 6.17 sales per month, which equates to 74 per year.
With the median price for a house in Bell Park being $473528 and the advertised rent reaching $360 the gross rental yield for property investors calculates out to be 3.95%
Property investors who have had real estate in Bell Park, 3215 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 13.89%
A 23.31% growth in median value for property investors in Bell Park,3215 puts this suburb at number 140th in terms of best performing suburbs in VIC
LACK OF BUYER INTEREST may well be the reason that Bell Park is offering property investors an average of -6.31. This rate of discount on properties puts Suburb at number 215th in terms of most discounted suburbs in VIC
At number 105 in a list of fastest selling suburbs, Bell Park is in the TOP 10% of suburbs in Australia with an average of days on market 51.5833 for properties listed there.
A $345 per week rent on the median house gives suburb investors a gross yield of circa 4.38%, without taking into account capital value appreciation, which has been averaging out at 5.49%.
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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.