Those in the know are discovering that parts of regional Victoria are quickly overtaking other states of Australia such as Tasmania as property hotspots. Geelong has experienced continued capital growth in prices and lots of infrastructure works which has led to a healthy local economy.
Factors including a steadily growing population sees the city as a possible investment strategy in the long term. And what’s even better is suburbs such as North Geelong which are still close to the city, have an average entry price of sub $500k! Check out the stats below.
- Median house price is $482,000
- Average deposit of $96,400, based at 20% of purchase price
- Vacancy rental rate of properties very low at 1.26%
- Strong annual average growth of 12.3%
- Rental yield ticking just over 3.5%
If you want to Rentvest or need some help finding the right investment, then contact us today.