VIC has seen average median house prices change by -1.79% which means that Grovedale, 3216 has not done well for property investors by showing a capital gain of 3.58% over the last year
Over the longer term, Grovedale has seen property prices show investors a 28.96% return over the last 3 years. This is worse than over the last 12 months
Grovedale3216 is located in VIC which offers an average discount of -6.90% to property investors. Grovedale itself is showing figures that indicate -5.10% is the average achievable by property buyers investing in the suburb.
Property investors should expect to get $400 weekly from the median priced house in this suburb.
Grovedale is in the TOP 20% in VIC when comparing median price capital growth over the last year. Grovedale gave property investors a very good capital gain figure when compared to the rest of the state, with 12.86%.
While Grovedale,3216 ranked number 109th in VIC for increase in median house value (annualised) increase, it is ranked 53th over the last 5 years.
The most recent median price for Grovedale is $395000, with sellers offering an average of -5.83% off the asking price.
Property investors should expect to get $320 weekly from the median priced house in this suburb.
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Geelong offers affordability and growth
Median unit price: $362,100
Three-year growth: 35.4%
Rental yield: 4.6%
Located in the increasingly popular Geelong region, the suburb of Grovedale is a haven of German heritage and culture. In fact, it was originally called Germantown because the community was dominated by German Lutheran families in 1849.
Grovedale’s unit prices have seen a remarkable boost over the five years to January 2019, with growth peaking at 35.4% in the last three years. The median value is currently at just over $360,000 – a great value for buyers.
The suburb sits on the Surf Coast Highway, which leads to the Geelong city centre and to Torquay. Public transport options for residents include buses to Geelong via Deakin University, Belmont, Highton and Waurn Ponds.
Grovedale College, which had a reputation for being a model of progressive education when it was established in 1979, is located in this suburb.