If you compare the increase in value of investment property in Castlemaine, 3450 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this VIC suburb was 7.06%.
A 31.88% growth in median value for property investors in Castlemaine,3450 puts this suburb at number 207th in terms of best performing suburbs in VIC
Sellers are offering property buyers an average discount of -3.60% to buyers in Castlemaine at the moment, which is less than average for the rest of VIC.
Using the current median advertised rental of $325 and the average annual increase in value of a median property of 7.39%, investors should hope to achieve an overall return of 3.71%
Castlemaine has had a quite poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of 0.00% to date .
The five-year average increase in median property values for Castlemaine,3450 has given property investors a potential capital gain of 5.35% across each of those five years.
At number 245th of VIC’s most discounted properties, Castlemaine is in the TOP 30% of the state/territory when listing in order of most discounted to least.
On average over the past year, suburb has had 1.67 sales per month, which equates to 20 per year.
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.Full summary
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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.