Property value increases in South Yarra have tracked just lower than the VIC average of 8.96% over the last 12 months.
Taking the average capital gain, or increase in median house value, South Yarra,3141 has racked up an average of 3.96% over the period. This ranks it number 81th in the whole country for real estate investors looking at median house price increases.
Vendor discounting in South Yarra is giving property investors an average Vendor Discount of around -7.52%. This puts suburb at number 123th in VIC when ranking the most discounted suburbs.
In the last year 169 properties changed hands in South Yarra, which puts it as the 149th most active market in VIC when comparing the number of sales per suburb.
Situated 3.60km from the CBD, South Yarra is one of Stonnington localities in the postcode 3141.
If you compare the increase in value of investment property in South Yarra, 3141 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was -5.17%.
If we look at median property appreciation over just the last three months, South Yarra has given property investors a paper return of 0.00%. This puts Suburb as 209 on a list of fastest fasting appreciating suburbs in VIC
Our latest figures would indicate that property sellers in South Yarra are currently offering property investors an average price cut of -6.53% below the asking price at the moment.
Renters in Suburb are facing rents around $5400 per annum or $450 every week.
Richmond and South Yarra are premium suburbs for investors. Both suburbs offer exceptional amenity positioned within minutes to the CBD. Rental returns are reflected in the premium locale of both suburbs which in turn attracts high quality tenants and minimum vacancy days.Full summary
Information supplied by:
Melbourne Real Estate
03 9429 0455
Selling points: Richmond and South Yarra are premium suburbs for investors. Both suburbs offer exceptional amenity positioned within minutes to the CBD. Rental returns are reflected in the premium locale of both suburbs which in turn attracts high quality tenants and minimum vacancy days.
Most sought after properties: One bed apartments are always in high demand followed by two bedrooms with two baths. Both are popular with young urban professionals.
Most common properties: High rise apartments, ultra modern renovated homes as well as period homes.
Top amenities: World class restaurants, cosmopolitan cafes, high quality retail and some of Melbourne’s best schools. Positioned near the Yarra River offering kilometres of walking, running and bicycle tracks.
Local industry and businesses: Restaurants and retail as well as offices.
Recent changes: The Forest Hill Precinct has undergone a major revitalization in the last 5 years. What was once a dilapidated eyesore in a Blue Chip suburb is now home to world famous bars, restaurants and cafes. Luxurious buildings now dot the skyline of what was once a streetscape of warehouses.
Best streets: Tree lined streets close to the main shopping strips and public transport.
Public transport: Excellent. Trams, trains and busses are within short walking distance.
Main arteries: Easy access to freeways and toll roads. Minutes from the CBD.