Property value increases in South Yarra have tracked just lower than the VIC average of 8.27% over the last 12 months.
Across a shorter period, South Yarra, 3141 has seen a median price increase of 4.84% over the last quarter.
LACK OF BUYER INTEREST may well be the reason that South Yarra is offering property investors an average of -5.91. This rate of discount on properties puts Suburb at number 151th in terms of most discounted suburbs in VIC
On average over the past year, suburb has had 13.92 sales per month, which equates to 167 per year.
Property value increases in South Yarra have tracked lower than the VIC average of 3.49% over the last 12 months.
The five-year average increase in median property values for South Yarra,3141 has given property investors a potential capital gain of 2.16% across each of those five years.
The most recent median price for South Yarra is $545000, with sellers offering an average of -6.35% off the asking price.
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.