Across a shorter period, West Melbourne, 3003 has seen a median price increase of 31.65% over the last quarter.
The VIC suburb of West Melbourne, 3003 is in the Melbourne local government area.
VIC has seen average median house prices change by 4.83% which means that West Melbourne, 3003 has done well for property investors by showing a capital gain of 6.32% over the last year
A 6.38% growth in median value for property investors in West Melbourne,3003 puts this suburb at number 79th in terms of best performing suburbs in VIC
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in West Melbourne, 3003. Typically our figures indicate that -4.61% is being offered, which puts this VIC suburb at 863th most discounted overall in Australia.
A $470 per week rent on the median house gives suburb investors a gross yield of circa 4.59%, without taking into account capital value appreciation, which has been averaging out at 3.46%.