At number 26th in the list of Australian suburbs ordered by increase in median house value over the last year, St Kilda, 3182 is in the top 10% with a property value increase of 41.20% recorded in median house prices.
St Kilda,3182 was ranked 1079 in Australia by increase in median property value over the quarter.
St Kilda3182 is located in VIC which offers an average discount of -5.53% to property investors. St Kilda itself is showing figures that indicate -3.39% is the average achievable by property buyers investing in the suburb.
On average over the past year, suburb has had 5.42 sales per month, which equates to 65 per year.
With the median price for a house in St Kilda being $1355500 and the advertised rent reaching $520 the gross rental yield for property investors calculates out to be 1.99%
Property investors who have had real estate in St Kilda, 3182 should be relatively 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 -0.05%
Taking the average capital gain, or increase in median house value, St Kilda,3182 has racked up an average of -0.05% over the period. This ranks it number 953th in the whole country for real estate investors looking at median house price increases.
Property buyers and investors in St Kilda 3182 should be seeing an average reduction in asking price of around -6.49% . This means that St Kilda is holding prices well when compared to other suburbs in VIC.
Renters in Suburb are facing rents around $4800 per annum or $400 every week.
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.”