With a capital gain of 13.87% for the last 12 months, Geelong West, 3218 has performed for property investments than its average annual 8.18% property growth over the last 5 years.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Geelong West has increased when compared to the 5 year average annual rate.
Property buyers and investors in Geelong West 3218 should be seeing an average reduction in asking price of around -4.97% . This means that Geelong West is holding prices well when compared to other suburbs in VIC.
At number 749th in the list of Australian suburbs ordered by increase in median house value over the last year, Geelong West, 3218 is in the top half with a property value increase of 2.78% recorded in median house prices.
Taking the average capital gain, or increase in median house value, Geelong West,3218 has racked up an average of 2.78% over the period. This ranks it number 527th in the whole country for real estate investors looking at median house price increases.
Property investors looking for a bargain in Geelong West should be aiming for at least -3.39% off the asking price, which is the average vendor discount being achieved at the moment.
On average over the past year, suburb has had 2.33 sales per month, which equates to 28 per year.
With the median price for a house in Geelong West being $388000 and the advertised rent reaching $295 the gross rental yield for property investors calculates out to be 3.95%