Property investors who have had real estate in Ocean Grove, 3226 should be ok with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -0.72%
Over the longer term, Ocean Grove has seen property prices show investors a 24.21% return over the last 3 years. This is worse than over the last 12 months
Sellers are offering property buyers an average discount of -7.31% to buyers in Ocean Grove at the moment, which is less than average for the rest of VIC.
A $460 per week rent on the median house gives suburb investors a gross yield of circa 3.49%, without taking into account capital value appreciation, which has been averaging out at 6.06%.
Ocean Grove has had a A very good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 16.39% to date .
Over the longer term, Ocean Grove has seen property prices show investors a 42.78% return over the last 3 years. This is worse than over the last 12 months
Property investors looking for a bargain in Ocean Grove should be aiming for at least -7.65% off the asking price, which is the average vendor discount being achieved at the moment.