Investment property in North Geelong has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 2.70%
While North Geelong,3215 ranked number 231th in VIC for increase in median house value (annualised) increase, it is ranked 46th over the last 5 years.
Property investors looking for a bargain in North Geelong should be aiming for at least -4.77% off the asking price, which is the average vendor discount being achieved at the moment.
On average over the past year, suburb has had 2.75 sales per month, which equates to 33 per year.
A $340 per week rent on the median house gives suburb investors a gross yield of circa 3.57%, without taking into account capital value appreciation, which has been averaging out at 7.65%.
If we look at median property appreciation over just the last three months, North Geelong has given property investors a paper return of -12.21%. This puts Suburb as 346 on a list of fastest fasting appreciating suburbs in VIC
North Geelong, 3215’s gross rental yield is 3.99%