Property investors have seen a 3.14% 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 10.62%.
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 $620,000
Profits averaged 6.8% 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 3.52%.
An average of 29.83 real estate transactions take place per month in OCEAN GROVE which translates to 358 per annum.
Property investments in OCEAN GROVE fare well against the rest of the country last year, registering a median home price increase of 7.68%.
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.
This means, real estate investors could earn a rental income of $360 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 93.1 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 $505,000
Investors saw the median home price rise to $505,000.
OCEAN GROVE ranks 223rd on the list of best yielding suburbs for rental properties in VIC, posting a 3.71% return.
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