Property investors who have had real estate in South Yarra, 3141 should be unhappy with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -3.92%
If we look at median property appreciation over just the last three months, South Yarra has given property investors a paper return of 5.52%. This puts Suburb as 102 on a list of fastest fasting appreciating suburbs in VIC
Property buyers and investors in South Yarra 3141 should be seeing an average reduction in asking price of around -10.49% . This means that South Yarra is holding prices well when compared to other suburbs in VIC.
Property investors should expect to get $625 weekly from the median priced house in this suburb.
Property value increases in South Yarra have tracked lower than the VIC average of 3.19% 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 -6.44% over the period. This ranks it number 1449th in the whole country for real estate investors looking at median house price increases.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.14% offered to property buyers. Sellers in South Yarra itself are offering an average vendor discount of -6.49% to real estate investors.
A $435 per week rent on the median house gives suburb investors a gross yield of circa 4.15%, without taking into account capital value appreciation, which has been averaging out at 4.13%.
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.