At number 2648th in the list of Australian suburbs ordered by increase in median house value over the last year, Newcomb, 3219 is in the BOTTOM 40% with a property value increase of -2.31% recorded in median house prices.
Newcomb,3219 has offered an average of -2.31% return per annum in house price rises to property investors over the last three years.
LACK OF BUYER INTEREST may well be the reason that Newcomb is offering property investors an average of -6.51. This rate of discount on properties puts Suburb at number 240th in terms of most discounted suburbs in VIC
Newcomb, 3219’s gross rental yield is 4.09%
Newcomb is an average performer in VIC when comparing median price capital growth over the last year. Newcomb gave property investors a average capital gain figure when compared to the rest of the state, with 5.74%.
While Newcomb,3219 ranked number 164th in VIC for increase in median house value (annualised) increase, it is ranked 35th over the last 5 years.
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.