North Geelong

POSTAL CODE: VIC, 3215

HOUSE

UNIT

NORTH GEELONG, 3215 ranks 3100th on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 3.65% for property investors.

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 $667,000.

The downward trend in home prices in NORTH GEELONG, 3215 averaged -1.11% per annum over a 3-year period.

Average weekly rents on listings have reached the $450 mark, reflecting a 3.51% increase in returns based on the current median price in NORTH GEELONG.

An average of 6.08 real estate transactions take place per month in NORTH GEELONG which translates to 73 per annum.

73 properties were sold in NORTH GEELONG in 2016, making it the 92nd most active market in VIC based on total real estate transactions.

NORTH GEELONG, 3215 places 103rd 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 25.25% 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 14.66% per annum over a 3-year period.

NORTH GEELONG now ranks at the 81st 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 $460 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.

16 properties were sold in NORTH GEELONG in 2016, making it the 300th most active market in VIC based on total real estate transactions.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$667,000	$501,000
Growth Report
Median Quarterly	4.22%	3.3%
Median 12 month	3.65%	25.25%
Median 3 years	-3.33%	43.97%
Median 5 years	7.93%	0%
10 years average annual	7.69%	25.25%
Weekly media advert. rent	$450	$460
Time on Market	62.9 days	N/A
Gross Rental Yield Percent	3.51%	4.77%

Demographics (Median Values)*

Total Population 20616

Weekly Household Income 1141

Household Size 2.40

Average Age 42

Monthly Loan Repayment 1421

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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