Ocean Grove

POSTAL CODE: VIC, 3226

HOUSE

UNIT

Property investors have seen a -2.11% drop in OCEAN GROVE based on a decrease in median home prices for the past three months.

Based on its average 5-year and quarterly capital gains OCEAN GROVE, 3226 saw average growth in the long term.

The VIC 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 $930,000

Profits averaged -6% per annum over a 3-year period, due to an downward trend in home prices in OCEAN GROVE, 3226.

This means, real estate investors could earn a rental income of $600 based on current median home prices for the suburb.

The gross rental yield in OCEAN GROVE, 3226 is 3.35%.

An average of 32.42 real estate transactions take place per month in OCEAN GROVE which translates to 389 per annum.

Property investments in OCEAN GROVE did not fare well against the rest of the country last year, registering a median home price decrease of 5.91%.

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

Based on its average 5-year and quarterly capital gains OCEAN GROVE, 3226 saw average growth in the long term.

This means, real estate investors could earn a rental income of $520 based on current median home prices for the suburb.

It is expected for properties to spend some time on the market prior to a successful sale. In OCEAN GROVE, homes and units usually stay on listing for an average of 99.4 days.

the VIC suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $789,000

Investors saw the median home price rise to $789,000.

OCEAN GROVE ranks 357th on the list of best yielding suburbs for rental properties in VIC, posting a 3.43% return.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$930,000	$789,000
Growth Report
Median Quarterly	-2.11%	3.82%
Median 12 month	-4.12%	5.91%
Median 3 years	-18.06%	-15.28%
Median 5 years	17.72%	20.46%
10 years average annual	6.84%	6.8%
Weekly media advert. rent	$600	$520
Time on Market	90.4 days	99.4 days
Gross Rental Yield Percent	3.35%	3.43%

Demographics (Median Values)*

Total Population 14165

Weekly Household Income 1432

Household Size 2.50

Average Age 42

Monthly Loan Repayment 1733

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

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