Over the last year, property investments in St Kilda, 3182 have given investors a capital gain of 33.40%. This compares very favourably with the 8.12% for VIC as a whole.
While St Kilda,3182 ranked number 2nd in VIC for increase in median house value (annualised) increase, it is ranked 18th over the last 5 years.
St Kilda3182 is located in VIC which offers an average discount of -6.00% to property investors. St Kilda itself is showing figures that indicate -1.21% is the average achievable by property buyers investing in the suburb.
In the last year 57 properties changed hands in St Kilda, which puts it as the 396th most active market in VIC when comparing the number of sales per suburb.
A $515 per week rent on the median house gives suburb investors a gross yield of circa 2.15%, without taking into account capital value appreciation, which has been averaging out at 8.35%.
St Kilda, 3182 ranked 263th in VIC when comparing growth in median property values or capital gain over the last 12 months. St Kilda is one of 2098 in our list for VIC
When looking at the potential capital gains offered to property investors over the last 3 years, St Kilda comes in at number 254th in VIC.
LACK OF BUYER INTEREST may well be the reason that St Kilda is offering property investors an average of -5.08. This rate of discount on properties puts Suburb at number 70th in terms of most discounted suburbs in VIC
Next to Balaclava, St Kilda is a popular lifestyle suburb with strong historical capital growth rates that’s right on the bay, but also within 10km of Melbourne’s CBD. Apartments dominate the market, and WBP’s Sean Thomson suggests that it’s this section of the market that investors will want to target. Full summary
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Next to Balaclava, St Kilda is a popular lifestyle suburb with strong historical capital growth rates that’s right on the bay, but also within 10km of Melbourne’s CBD. Apartments dominate the market, and WBP’s Sean Thomson suggests that it’s this section of the market that investors will want to target.
“For an investor, with the way that lifestyles are changing in those areas, I’d suggest looking at one- or two-bedroom apartments and staying in boutique style blocks of six to 20 apartments and where the land value is quite substantial,” he says.
“Within those boutique blocks, look for something that is unique,” advises Thomson. “This could be the position within the block, the floor plan or the condition of the property.”
He adds that modern high rise apartments tend to be quite small, and that the body corporate fees in high rises can be quite high.
“There could be lifts, cleaning, swimming pools and services that as an investor you don’t need to be forking out for. The land component per unit is also small compared to a boutique development.”
He also suggests looking at the more picturesque St Kilda and St Kilda West, rather than heading inland to St Kilda East.
“St Kilda West backs up to Middle Park, and you’re in close proximity to Fitzroy Street – one of the main streets in St Kilda where a lot of cafés, restaurants and amenities are – and the Bay area,” he says. “It’s got the bay on one side, and parkland on the other. It’s a stunning location with easy access to the city by light rail.”