Over the last year, property investments in Prahran, 3181 have given investors a capital gain of 7.69%. This compares averagely with the 7.68% for VIC as a whole.
When looking at the potential capital gains offered to property investors over the last 3 years, Prahran comes in at number 18th in VIC.
The most recent median price for Prahran is $1400000, with sellers offering an average of -7.50% off the asking price.
In the last year 131 properties changed hands in Prahran, which puts it as the 189th most active market in VIC when comparing the number of sales per suburb.
A $595 per week rent on the median house gives suburb investors a gross yield of circa 2.21%, without taking into account capital value appreciation, which has been averaging out at 8.75%.
If you compare the increase in value of investment property in Prahran, 3181 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 -1.13%.
Comparing Prahran,3181 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Property investors looking for a bargain in Prahran should be aiming for at least -7.94% off the asking price, which is the average vendor discount being achieved at the moment.
At number 778 in a list of fastest selling suburbs, Prahran is just in the bottom half of suburbs in Australia with an average of days on market 79.76 for properties listed there.
Using the current median advertised rental of $390 and the average annual increase in value of a median property of 4.54%, investors should hope to achieve an overall return of 3.83%