Investment property in Grovedale has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 7.69%
Over the longer term, Grovedale has seen property prices show investors a 17.32% return over the last 3 years. This is worse than over the last 12 months
At number 84th of VIC’s most discounted properties, Grovedale is in the TOP 10% of the state/territory when listing in order of most discounted to least.
Residents and property investors in Grovedale have been waiting around 5.9 days to sell a property.
Advertised rents are around the $365 mark per week – giving a return of 4.52% based on the median price in Suburb
Grovedale is an average performer in VIC when comparing median price capital growth over the last year. Grovedale gave property investors a good capital gain figure when compared to the rest of the state, with 11.30%.
Comparing Grovedale,3216 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
In the last year 38 properties changed hands in Grovedale, which puts it as the 220th most active market in VIC when comparing the number of sales per suburb.
With the median price for a house in Grovedale being $330000 and the advertised rent reaching $295 the gross rental yield for property investors calculates out to be 4.65%
Grovedale has attracted strong interest from investors, in large part due to its high average returns of over 5%, which suggests a strong rental market.Full summary
Information supplied by:
Former Germantown draws interest from student body
Median unit price: $299,000
Three-year growth: 2.66%
Rental yield: 5.22%
The residential suburb of Grovedale has appealed to investors for many years, with its high average returns of over 5% suggesting a strong rental market. In the past year up to April 2017, apartment values jumped by nearly 11%.
This trend has continued into the April 2017 quarter, indicating that the suburb has long-term potential. Units go off the market at low discount rates as well. This is likely because of the demand from students at Deakin University.
Grovedale is quite accessible due to its location on the Surfcoast Highway, in addition to being less than 10 minutes from Torquay. The Surf Coast itself is a short drive away. The suburb is affordable as well, with the median unit price coming in at under $300,000. Close