VIC has seen average median house prices change by -1.79% which means that Golden Point, 3350 has not done well for property investors by showing a capital gain of 17.31% over the last year
Golden Point,3350 was ranked 605 in Australia by increase in median property value over the quarter.
Property investors looking for a bargain in Golden Point should be aiming for at least -6.99% off the asking price, which is the average vendor discount being achieved at the moment.
Golden Point, 3350’s gross rental yield is 4.10%
Property investors who have had real estate in Golden Point, 3350 should be relatively pleased 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 0.49%
A 17.08% growth in median value for property investors in Golden Point,3350 puts this suburb at number 48th in terms of best performing suburbs in VIC
Using the current median advertised rental of $280 and the average annual increase in value of a median property of 6.84%, investors should hope to achieve an overall return of 4.77%
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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.