Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $705,000.
The upward trend in home prices in NORTH GEELONG, 3215 averaged 2.44% per annum over a 3-year period.
Average weekly rents on listings have reached the $490 mark, reflecting a 3.61% increase in returns based on the current median price in NORTH GEELONG.
An average of 5.08 real estate transactions take place per month in NORTH GEELONG which translates to 61 per annum.
61 properties were sold in NORTH GEELONG in 2016, making it the 140th most active market in VIC based on total real estate transactions.
NORTH GEELONG, 3215 places 58th in Australia based on median property value growth during the quarter.
The suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $501,000.
Average median unit prices in VIC have risen as a whole, pulling NORTH GEELONG, 3215 values up and netting property investors a capital gain of 11.83% for the past year.
Investors saw the median home price rise to $501,000.
The upward trend in home prices in NORTH GEELONG, 3215 averaged 21.78% per annum over a 3-year period.
NORTH GEELONG now ranks at the th place on a list of fastest growing suburbs in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in NORTH GEELONG are high, as opposed to average gains per annum over the past five years.
Real estate investors could earn a rental income of $425 based on current median home prices for the suburb.
It is expected for properties to spend some time on the market prior to a successful sale. In NORTH GEELONG, homes and units usually stay on listing for an average of N/A.
12 properties were sold in NORTH GEELONG in 2016, making it the 369th most active market in VIC based on total real estate transactions.