VIC/
Ocean grove

Suburb Profile

Ocean Grove - FREE SUBURB PROFILE REPORT
POSTAL CODE: VIC,3226

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unit

Property investors have seen a 1.56% gain in OCEAN GROVE based on an increase in median home prices for the past three months.

Homeowners and real estate investors betting on OCEAN GROVE, 3226 can rest assured about this VIC suburb's performance. The suburb saw median home prices rise by 13.54%.

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 $650,000

Profits averaged 10% per annum over a 3-year period, due to an upward trend in home prices in OCEAN GROVE, 3226.

This means, real estate investors could earn a rental income of $420 based on current median home prices for the suburb.

The gross rental yield in OCEAN GROVE, 3226 is 3.36%.

An average of 30.17 real estate transactions take place per month in OCEAN GROVE which translates to 362 per annum.

KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $650,000 $499,000
GROWTH REPORT
Median Quarterly 1.56% 0.81%
Median 12 month 13.54% 2.89%
Median 3 years 30% 18.81%
Median 5 years 42.51% 26.33%
10 years average annual 5.91% 5.35%
Weekly media advert. rent $420 $360
Time on Market 70.9 days 96.4 days
Gross Rental Yield Percent 3.36% 3.75%
demographics (median values)
Total Population
11276
Weekly Household Income
1006
Household Size
2.50
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Ocean Grove, VIC
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