Property investors who have had real estate in Golden Point, 3350 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 increase in value by 0.81%
Over the longer term, Golden Point has seen property prices show investors a 27.12% return over the last 3 years. This is worse than over the last 12 months
The most recent median price for Golden Point is $375000, with sellers offering an average of -6.24% off the asking price.
In the last year 49 properties changed hands in Golden Point, which puts it as the 420th most active market in VIC when comparing the number of sales per suburb.
Golden Point, 3350’s gross rental yield is 4.37%
If you compare the increase in value of investment property in Golden Point, 3350 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 13.10%.
Over the longer term, Golden Point has seen property prices show investors a 33.13% return over the last 3 years. This is worse than over the last 12 months
Often selling an investment property can take time, and in Golden Point the average time real estate has been on the market is 58.6111 days.
Golden Point, 3350’s gross rental yield is 4.72%
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Affordable suburb draws interest
Median house price: $295,000
Three-year growth: 13.9%
Rental yield: 4.8%
Bordered by the Yarrowee River, Golden Point is suburb of Ballarat, situated around 100km from Melbourne. Housing stock in this suburb is largely comprised of charming brick homes, terraces houses and art deco residences.
Residents are close to employment, with Golden Point – which was once known as Poverty Point – providing inner city living with ready access to public transport, whilst also being within walking distance of the central business district. It is also home to the popular tourism destination Sovereign Hill Historic Park, an open-air museum depicting the gold rush.
For investors, there may be opportunities to add value by renovating homes built 70 years earlier, and for those looking for development opportunities, there may be homes in the area suited to subdivision and development.