Newcomb

POSTAL CODE: VIC, 3219

HOUSE

UNIT

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 8.09% for the past year.

Investors saw the median home price rise to $601,000.

Profits due to an downward trend in home prices in the suburb averaged -0.22% per annum over a 3-year period.

NEWCOMB now ranks at the 499th 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 $470 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 46.6 days.

In 2016, 96 properties were sold in NEWCOMB during the past year, making it the 12th most active market in VIC based on total real estate transactions.

NEWCOMB ranks 300th 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 -2.04% for the past year, which is lower than average compared to its 10.13% growth within a five-year period.

With the median home price in NEWCOMB sitting at $465,300, and the average rent at $430, property owners could potentially earn a 4.81% increase in gross rental yield.

Property investors have seen a -3.06% drop in NEWCOMB based on a decrease in median home prices for the past three months.

A survey of average capital gains or median home price increase in suburbs across the country shows that NEWCOMB, 3219 obtained a 5.61% growth over a ten-year period. It ranks 798th on our list of suburbs that property investors should look into.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$601,000	$465,300
Growth Report
Median Quarterly	0.17%	-3.06%
Median 12 month	8.09%	-2.04%
Median 3 years	-0.66%	-6.38%
Median 5 years	25.34%	10.13%
10 years average annual	8.01%	5.61%
Weekly media advert. rent	$470	$430
Time on Market	46.6 days	41.7 days
Gross Rental Yield Percent	4.07%	4.81%

Demographics (Median Values)*

Total Population 19715

Weekly Household Income 991

Household Size 2.20

Average Age 42

Monthly Loan Repayment 1300

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

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