Giving property investors a a solid capital gain of 7.21% for the last year, Castlemaine, 3450 is the 812th highest performer in Australia in this respect.
While Castlemaine,3450 ranked number 185th in VIC for increase in median house value (annualised) increase, it is ranked 220th over the last 5 years.
At number 437th of VIC’s most discounted properties, Castlemaine is in the TOP 20% of the state/territory when listing in order of most discounted to least.
Castlemaine, 3450’s gross rental yield is 3.49%
Property investors who have had real estate in Castlemaine, 3450 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 4.27%
Castlemaine,3450 was ranked 637 in Australia by increase in median property value over the quarter.
With the median price for a house in Castlemaine being $427500 and the advertised rent reaching $320 the gross rental yield for property investors calculates out to be 3.89%
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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.