Investment property in West Melbourne has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 20.82%
A 46.77% growth in median value for property investors in West Melbourne,3003 puts this suburb at number 591th in terms of best performing suburbs in VIC
Using the current median advertised rental of $500.5 and the average annual increase in value of a median property of 7.42%, investors should hope to achieve an overall return of 2.94%
Property value increases in West Melbourne have tracked lower than the VIC average of 3.49% over the last 12 months.
The five-year average increase in median property values for West Melbourne,3003 has given property investors a potential capital gain of -0.60% across each of those five years.
LACK OF BUYER INTEREST may well be the reason that West Melbourne is offering property investors an average of -5.13. This rate of discount on properties puts Suburb at number 265th in terms of most discounted suburbs in VIC