Property investors who have had real estate in Castlemaine, 3450 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 3.88%
Castlemaine,3450 has offered an average of 3.88% return per annum in house price rises to property investors over the last three years.
State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.39% offered to property buyers. Sellers in Castlemaine itself are offering an average vendor discount of -3.02% to real estate investors.
The VIC suburb of Castlemaine, 3450 is in the Mount Alexander (S) local government area.
Investment property in Castlemaine has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -4.88%
Comparing Castlemaine,3450 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Often selling an investment property can take time, and in Castlemaine the average time real estate has been on the market is 81.0833 days.
Property investors should expect to get $320 weekly from the median priced house in this suburb.
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Castlemaine is located 38km south of Bendigo and 120km northwest of Melbourne. Once a gold mining town, Castlemaine’s economic activity now centres around manufacturing, agriculture and tourism, with its goldrush era architecture and history being major drawcards for visitors.
It’s also conveniently located at the junction of several major highways which lead to the major urban hubs of Bendigo, Ballarat and Melbourne amongst others. Castlemaine also benefits from having its own railway station, making the train journey to Bendigo less than 30 minutes long, and Melbourne a little over an hour and a half in duration.