If you compare the increase in value of investment property in West Melbourne, 3003 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 31.13%.
Across a shorter period, West Melbourne, 3003 has seen a median price increase of -1.07% over the last quarter.
A $540 per week rent on the median house gives suburb investors a gross yield of circa 2.42%, without taking into account capital value appreciation, which has been averaging out at 9.61%.
With a capital gain of 2.73% for the last 12 months, West Melbourne, 3003 has performed for property investments than its average annual 2.55% property growth over the last 5 years.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in West Melbourne has increased when compared to the 5 year average annual rate.
West Melbourne3003 is located in VIC which offers an average discount of -4.68% to property investors. West Melbourne itself is showing figures that indicate -4.59% is the average achievable by property buyers investing in the suburb.
Using the current median advertised rental of $462.5 and the average annual increase in value of a median property of 2.55%, investors should hope to achieve an overall return of 4.81%