Property investors who have had real estate in North Geelong, 3215 should be relatively 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 3.31%
Comparing North Geelong,3215 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Our latest figures would indicate that property sellers in North Geelong are currently offering property investors an average price cut of -5.52% below the asking price at the moment.
In the last year 28 properties changed hands in North Geelong, which puts it as the 519th most active market in VIC when comparing the number of sales per suburb.
A $340 per week rent on the median house gives suburb investors a gross yield of circa 3.66%, without taking into account capital value appreciation, which has been averaging out at 8.11%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in North Geelong has increased when compared to the 5 year average annual rate.