A steady increase in median property prices over a five-year period in the suburb translates to a 40.54% capital gain.
It 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 $650,000
The augmented property values in the suburb are trailing above the territorial average of 11.48% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $365.
Home owners selling their properties and realtors in GEELONG WEST usually have to wait an average of 37.9 days days before their assets are lifted off the market.
The VIC suburb ranks 357th on the list of best yielding suburbs for rental properties in VIC, posting a 2.92% return.
It also places places 174th in Australia based on median property value growth during the quarter.
A survey of average capital gains or median home price increase in suburbs across the country shows that GEELONG WEST, 3218 obtained a 5.93% growth over a ten-year period. It ranks 554th on our list of suburbs that property investors should look into.
GEELONG WEST, 3218 has a capital gain of -15.12% for the past year, which is lower than average compared to its 0.95% growth within a five-year period.
With the median home price in GEELONG WEST sitting at $320,000, and the average rent at $280, property owners could potentially earn a 4.55% increase in gross rental yield.
Figures from the previous quarter show that capital gains for real estate buyers in GEELONG WEST are low, as opposed to average gains per annum over the past five years.
GEELONG WEST, 3218 in VIC belongs to the local government area of Greater Geelong.