Over the last year, property investments in South Yarra, 3141 have given investors a capital gain of -8.10%. This compares very badly with the 8.23% for VIC as a whole.
While South Yarra,3141 ranked number 658th in VIC for increase in median house value (annualised) increase, it is ranked 3rd over the last 5 years.
At number 30th of VIC’s most discounted properties, South Yarra is in the bottom 10% of the state/territory when listing in order of most discounted to least.
South Yarra, 3141’s gross rental yield is 2.26%
Over the last year, property investments in South Yarra, 3141 have given investors a capital gain of -4.35%. This compares very badly with the 4.09% for VIC as a whole.
South Yarra,3141 was ranked 1142 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 -6.26%. This puts suburb at number 72th in VIC when ranking the most discounted suburbs.
With the median price for a house in South Yarra being $549375 and the advertised rent reaching $425 the gross rental yield for property investors calculates out to be 4.02%
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.