NEWCOMB, 3219 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.
Average median house prices in VIC have risen as a whole, pulling NEWCOMB, 3219 values up and netting property investors a capital gain of 18.06% for the past year.
Investors saw the median home price rise to $366,000.
Profits due to an upward trend in home prices in the suburb averaged 8.45% per annum over a 3-year period.
NEWCOMB now ranks at the 191st 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 NEWCOMB are low, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $320 based on current median home prices.
Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In NEWCOMB, homes and units usually stay on listing for an average of 40.9 days.
In 2016, 78 properties were sold in NEWCOMB during the past year, making it the 66th most active market in VIC based on total real estate transactions.
NEWCOMB ranks 286th in VIC when it comes to estimated capital gains experienced by property investors over the past three years.
NEWCOMB, 3219 has a capital gain of 19.2% for the past year, which is higher than average compared to its 12.45% growth within a five-year period.
NEWCOMB, 3219 ranks 189th on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 19.2% for property investors last year.
With the median home price in NEWCOMB sitting at $298,000, and the average rent at $280, property owners could potentially earn a 4.89% increase in gross rental yield.
Property investors have seen a -0.67% drop in NEWCOMB based on a decrease in median home prices for the past three months.
Homeowners and real estate investors betting on NEWCOMB, 3219 can rest assured about this VIC suburb's performance. The suburb saw median home prices rise by 19.2%.
A survey of average capital gains or median home price increase in suburbs across the country shows that NEWCOMB, 3219 obtained a 5.92% growth over a ten-year period. It ranks 556th on our list of suburbs that property investors should look into.