NORTH GEELONG, 3215 ranks 299th on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 23.1% 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 $405,000.
The upward trend in home prices in NORTH GEELONG, 3215 averaged 10.5% per annum over a 3-year period.
Average weekly rents on listings have reached the $310 mark, reflecting a 3.98% increase in returns based on the current median price in NORTH GEELONG.
An average of 4.42 real estate transactions take place per month in NORTH GEELONG which translates to 53 per annum.
53 properties were sold in NORTH GEELONG in 2016, making it the 161st most active market in VIC based on total real estate transactions.
NORTH GEELONG, 3215 places 34th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||23.1%||N/A|
|Median 3 years||31.49%||N/A|
|Median 5 years||40.26%||N/A|
|10 years average annual||5.82%||N/A|
|Weekly media advert. rent||$310||N/A|
|Time on Market||77.1 days||N/A|
|Gross Rental Yield Percent||3.98%||N/A|