Property investors who have had real estate in Geelong West, 3218 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 12.94%
A 50.00% growth in median value for property investors in Geelong West,3218 puts this suburb at number 180th in terms of best performing suburbs in VIC
Property buyers and investors in Geelong West 3218 should be seeing an average reduction in asking price of around -4.42% . This means that Geelong West is holding prices well when compared to other suburbs in VIC.
The VIC suburb of Geelong West, 3218 is in the Greater Geelong (C) local government area.
If you compare the increase in value of investment property in Geelong West, 3218 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was -4.50%.
While Geelong West,3218 ranked number 73th in VIC for increase in median house value (annualised) increase, it is ranked 95th over the last 5 years.
State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.17% offered to property buyers. Sellers in Geelong West itself are offering an average vendor discount of -3.76% to real estate investors.
Residents and property investors in Geelong West have been waiting around 68.65 days to sell a property.
A $390 per week rent on the median house gives suburb investors a gross yield of circa 4.25%, without taking into account capital value appreciation, which has been averaging out at 8.42%.