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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 $541,500.
The upward trend in home prices in NORTH GEELONG, 3215 averaged 17.51% per annum over a 3-year period.
Average weekly rents on listings have reached the $340 mark, reflecting a 3.27% increase in returns based on the current median price in NORTH GEELONG.
An average of 2.83 real estate transactions take place per month in NORTH GEELONG which translates to 34 per annum.
34 properties were sold in NORTH GEELONG in 2016, making it the 295th most active market in VIC based on total real estate transactions.
NORTH GEELONG, 3215 places 52nd in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $541,500 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 8.3% | N/A |
| Median 12 month | 7.55% | N/A |
| Median 3 years | 52.54% | N/A |
| Median 5 years | 78.13% | N/A |
| 10 years average annual | 8.49% | N/A |
| Weekly media advert. rent | $340 | N/A |
| Time on Market | 38.5 days | N/A |
| Gross Rental Yield Percent | 3.27% | N/A |
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