Newcomb is a residential suburb in Victoria, sitting within the 3219 postcode. Located approximately 63km from the Melbourne CBD, the suburb is serviced by 3 schools and benefits from solid transport and amenity access.
Newcomb has a population of approximately 4,704, a median age of 42, a median weekly household income of $1,280. The suburb has a balanced mix of owner-occupiers (56%) and renters, indicating healthy demand across both segments. Across the broader LGA, 38.6% of residents hold a university qualification.
Key employment industries in the broader local government area include Health Care and Social Assistance (18.0%), Construction (11.7%), Retail Trade (11.0%).
The current median house price in Newcomb is $608,000. Five-year average annual growth is 4.9%, indicating moderate capital movement. In the past 12 months, prices have increased 10.55%.
Properties in Newcomb spend an average of 24 days on market. Online buyer demand is currently rated as high online demand. Stock on market sits at 0.84%. Inventory levels are at 2.25 months, indicating a balanced market. The average vendor discount is -4.9%, meaning sellers are typically negotiating below asking price.
The median weekly rent for houses in Newcomb is $480. Gross rental yield is 4.11%, providing a solid income return. The vacancy rate of 0.95% signals very strong rental demand. Rents have grown 6.67% over the past 12 months.
The broader local government area is forecast to grow from 289,293 to 319,602 residents by 2031, representing 10.5% population growth. This level of growth typically supports continued demand for housing and infrastructure investment.
Explore other suburb profiles in the area: Breakwater, VIC, East Geelong, VIC, Thomson, VIC, Whittington, VIC, Geelong West, VIC.
Handle Properties is a Sydney-based buyer's agency helping investors build portfolios of high-growth investment properties across Australia. If you are considering Newcomb or need help identifying the right suburb for your strategy, get in touch with our team.
The quantitative data below has been compiled on 30th May 2023 from a range of third party sources using a variety of manual methods. Handle does not guarantee the accuracy of this data shown below.