Giving property investors a an average capital gain of -1.26% for the last year, Newcomb, 3219 is the 1926th highest performer in Australia in this respect.
While Newcomb,3219 ranked number 541th in VIC for increase in median house value (annualised) increase, it is ranked 161th over the last 5 years.
Property buyers and investors in Newcomb 3219 should be seeing an average reduction in asking price of around -6.34% . This means that Newcomb is holding prices well when compared to other suburbs in VIC.
Newcomb, 3219’s gross rental yield is 4.11%
Investment property in Newcomb has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 9.08%
Comparing Newcomb,3219 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
LACK OF BUYER INTEREST may well be the reason that Newcomb is offering property investors an average of -6.31. This rate of discount on properties puts Suburb at number 149th in terms of most discounted suburbs in VIC
On average over the past year, suburb has had 1.50 sales per month, which equates to 18 per year.
Newcomb is 95th on a list of best yielding suburbs for rents in VIC with a 4.66% return
Information supplied by:
Consistent long-term growth in Geelong suburb
Median house price: $453,500
Three-year growth: 56.4%
Rental yield: 3.8%
A highly accessible suburb of the up-and-coming Geelong district, Newcomb is home to a collection of mid-20th century homes. This classic appeal couples with the convenient location to inspire demand.
The reasonable house prices in this suburb have been attracting buyers, with the median value coming to a little more than $450,000. It has also displayed long-term potential, with an average annual growth rate of 8.3% as of February 2019.
Geelong is only a quick drive away, but Newcomb maintains its tranquillity. Schools and sports facilities pepper the streets, while the beach is only 15 minutes away. There are two shopping centres in the suburb, namely, Newcomb Central and Bellarine Village. Thus, the suburb is in demand especially with young families and retirees who want the quiet life while still being close to amenities.