Colac has had a quite poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of 6.12% to date .
While Colac,3250 ranked number 313th in VIC for increase in median house value (annualised) increase, it is ranked 470th over the last 5 years.
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.14% offered to property buyers. Sellers in Colac itself are offering an average vendor discount of -4.71% to real estate investors.
In the last year 170 properties changed hands in Colac, which puts it as the 146th most active market in VIC when comparing the number of sales per suburb.
A $280 per week rent on the median house gives suburb investors a gross yield of circa 5.33%, without taking into account capital value appreciation, which has been averaging out at 3.33%.
Over the last year, property investments in Colac, 3250 have given investors a capital gain of -13.04%. This compares very badly with the 5.66% for VIC as a whole.
While Colac,3250 ranked number 365th in VIC for increase in median house value (annualised) increase, it is ranked 255th over the last 5 years.
Colac, 3250 is offering VIC ‘s 111th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this VIC.
Often selling an investment property can take time, and in Colac the average time real estate has been on the market is 118.08 days.
Colac is 23th on a list of best yielding suburbs for rents in VIC with a 5.76% return
Information supplied by:June 2017
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As one of the destinations along the Great Ocean Road, Colac gets quite a bit of promotion. However, it’s not only for tourists.Full summary
Nature destination fields demand from unit buyers
Median unit price: $270,000
Three-year growth: 12.50%
Rental yield: 4.57%
As one of the destinations along the Great Ocean Road, Colac gets quite a bit of promotion. However, it’s not only for tourists.
The suburb’s growth peaked at an incredible 35% in the past year. The March 2017 quarter reported 8.9% growth as well. Even then, the median unit price is quite low at under $300,000 and returns for investors are significant at 4.5%. Thus, now could be a good time to enter this burgeoning market.
Colac is known for its farming and forestry, industries helped by its location near Colac Lake and the Great Otway National Park. Thus, the suburb is a great spot for water sports and hiking. There are also several primary and secondary schools in town.
Colac is highly accessible, since Princes Highway runs through the suburb. There is also a railway station and a coach terminal for commuters.
Original post: http://www.yourinvestmentpropertymag.com.au/top-suburbs/VIC-3250-colac.aspx