With a capital gain of 16.17% for the last 12 months, Newcomb, 3219 has performed for property investments than its average annual 5.61% property growth over the last 5 years.
Across a shorter period, Newcomb, 3219 has seen a median price increase of 4.35% over the last quarter.
Newcomb, 3219 is offering VIC ‘s 445th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 40% of discounts offered by this VIC.
The VIC suburb of Newcomb, 3219 is in the Greater Geelong local government area.
VIC has seen average median house prices change by 6.52% which means that Newcomb, 3219 has done well for property investors by showing a capital gain of 18.20% over the last year
The five-year average increase in median property values for Newcomb,3219 has given property investors a potential capital gain of 11.09% across each of those five years.
Our latest figures would indicate that property sellers in Newcomb are currently offering property investors an average price cut of -2.73% below the asking price at the moment.
Residents and property investors in Newcomb have been waiting around 51.73 days to sell a property.
Renters in Suburb are facing rents around $3360 per annum or $280 every week.
First home buyers that have been priced out of East Geelong, where you are looking at spending at least $400,000 plus, are coming to Newcomb in big ways says local real estate agent Donna Ellmer-Buckingham Full summary
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Newcomb sits just 3 km from downtown Geelong and next door to much pricier East Geelong, which has pockets of $700,000 homes.
First home buyers that have been priced out of East Geelong, where you are looking at spending at least $400,000 plus, are coming in big says local real estate agent Donna Ellmer-Buckingham. “So you know it’s definitely a good alternative.”
While Newcomb went flat over 2011, much of Melbourne went deep into negative territory over fears that the market had overheated. Those fears seem to have steered clear of Newcomb which grew 42% over the past 5 years, well below the average annual growth it recorded over the past 10 years and nowhere near the numbers posted in many of Melbourne’s comparable suburbs.
Location is the big draw in Newcomb as a typical ride to the city on public transport will take you just 5 minutes, yet residents also have access to the parks, farmland and open spaces to the east of the city.
Best Street(s): Poplar St: A long block of older, well established homes tuck in a residential quieter residential area, but still featuring great access to Geelong and beaches to the south.