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 -14.07%.
Over the longer term, South Yarra has seen property prices show investors a 45.53% return over the last 3 years. This is worse than over the last 12 months
Property investors looking for a bargain in South Yarra should be aiming for at least -11.27% off the asking price, which is the average vendor discount being achieved at the moment.
Residents and property investors in South Yarra have been waiting around 76.44 days to sell a property.
Using the current median advertised rental of $620 and the average annual increase in value of a median property of 6.98%, investors should hope to achieve an overall return of 2.36%
Property value increases in South Yarra have tracked lower than the VIC average of 3.63% over the last 12 months.
Comparing South Yarra,3141 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
South Yarra3141 is located in VIC which offers an average discount of -5.22% to property investors. South Yarra itself is showing figures that indicate -6.97% is the average achievable by property buyers investing in the suburb.
The VIC suburb of South Yarra, 3141 is in the Stonnington local government area.
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.