If you compare the increase in value of investment property in South Yarra, 3141 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was 0.50%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in South Yarra has increased when compared to the 5 year average annual rate.
The most recent median price for South Yarra is $1600000, with sellers offering an average of -7.76% off the asking price.
Residents and property investors in South Yarra have been waiting around 73.71 days to sell a property.
With the median price for a house in South Yarra being $1600000 and the advertised rent reaching $650 the gross rental yield for property investors calculates out to be 2.11%
South Yarra, 3141 ranked 313th in VIC when comparing growth in median property values or capital gain over the last 12 months. South Yarra is one of 2098 in our list for VIC
South Yarra,3141 was ranked 1182 in Australia by increase in median property value over the quarter.
Vendor discounting in South Yarra is giving property investors an average Vendor Discount of around -6.20%. This puts suburb at number 81th in VIC when ranking the most discounted suburbs.
Using the current median advertised rental of $440 and the average annual increase in value of a median property of 4.34%, investors should hope to achieve an overall return of 4.20%
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.