At number 3764th in the list of Australian suburbs ordered by increase in median house value over the last year, West Melbourne, 3003 is in the BOTTOM 10% with a property value increase of -8.81% recorded in median house prices.
Using the current median advertised rental of $520 and the average annual increase in value of a median property of 6.97%, investors should hope to achieve an overall return of 3.68%
West Melbourne has had a very poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -12.62% to date .
Across a shorter period, West Melbourne, 3003 has seen a median price increase of -6.60% over the last quarter.
West Melbourne, 3003 is offering VIC ‘s 231th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 30% of discounts offered by this VIC.
Often selling an investment property can take time, and in West Melbourne the average time real estate has been on the market is 93 days.