VIC has seen average median house prices change by 9.78% which means that St Kilda, 3182 has done well for property investors by showing a capital gain of 31.60% over the last year
While St Kilda,3182 ranked number 420th in VIC for increase in median house value (annualised) increase, it is ranked 105th over the last 5 years.
St Kilda, 3182 is offering VIC ‘s 591th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 10% of discounts offered by this VIC.
Often selling an investment property can take time, and in St Kilda the average time real estate has been on the market is 52.5 days.
St Kilda, 3182’s gross rental yield is 1.98%
Over the last year, property investments in St Kilda, 3182 have given investors a capital gain of -1.19%. This compares badly with the 4.83% for VIC as a whole.
Comparing St Kilda,3182 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
At number 37th of VIC’s most discounted properties, St Kilda is in the bottom 20% of the state/territory when listing in order of most discounted to least.
Using the current median advertised rental of $400 and the average annual increase in value of a median property of 4.66%, investors should hope to achieve an overall return of 4.00%
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.”