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Grovedale
AREA REPORTS

Grovedale

Grovedale - SUBURB PROFILE REPORT
POSTAL CODE: VIC, 3216

house
unit

Property investors enjoyed capital gains of 10.48% over the last 12 months in GROVEDALE, translating to lower returns compared with its peers in VIC.

A survey of average capital gains or median home price increase in suburbs across the country shows that the VIC suburb obtained a 5.42% growth over a ten-year period. It ranks 1813th on our list of suburbs that property investors should look into.

GROVEDALE, 3216 has a capital gain of 10.48% for the past year, which is lower than average compared to its 54.67% growth within a five-year period.

With the median home price in GROVEDALE sitting at $580,000, and the average rent at $420, property owners could potentially earn a 3.77% increase in gross rental yield.

Figures from the previous quarter show that capital gains for real estate buyers in GROVEDALE are low, as opposed to average gains per annum over the past five years.

GROVEDALE, 3216 in VIC belongs to the local government area of Greater Geelong (C).

Data report can be found below

Grovedale
KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $580,000 $450,000
GROWTH REPORT
Median Quarterly 4.32% 2.27%
Median 12 month 10.48% 8.3%
Median 3 years 26.09% 29.5%
Median 5 years 54.67% 55.84%
10 years average annual 5.42% 18.23%
Weekly media advert. rent $420 $350
Time on Market 26.8 days 31.5 days
Gross Rental Yield Percent 3.77% 4.04%
demographics (median values)*
Total Population
56284
Weekly Household Income
1370
Household Size
2.50
Age
38
Monthly Loan Repayment
1600
* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.
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