Investment property in Balaclava has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 17.11%
The five-year average increase in median property values for Balaclava,3183 has given property investors a potential capital gain of 52.05% across each of those five years.
Our latest figures would indicate that property sellers in Balaclava are currently offering property investors an average price cut of -1.56% below the asking price at the moment.
Residents and property investors in Balaclava have been waiting around 103.63 days to sell a property.
Renters in Suburb are facing rents around $7800 per annum or $650 every week.
Property investors who have had real estate in Balaclava, 3183 should be ok with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 2.95%
Balaclava,3183 has offered an average of 2.95% return per annum in house price rises to property investors over the last three years.
Our latest figures would indicate that property sellers in Balaclava are currently offering property investors an average price cut of -4.85% below the asking price at the moment.
On average over the past year, suburb has had 5.58 sales per month, which equates to 67 per year.
Using the current median advertised rental of $385 and the average annual increase in value of a median property of 6.97%, investors should hope to achieve an overall return of 3.64%
Just inland from better-known St Kilda, Balaclava doesn’t have the bayside village feel of its coastal neighbour, but it does offer the convenience of a train station. It’s one of APM’s top picks in terms of growth in both sales volumes and prices.Full summary
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Just inland from better-known St Kilda, Balaclava doesn’t have the bayside village feel of its coastal neighbour, but it does offer the convenience of a train station. It’s one of APM’s top picks in terms of growth in both sales volumes and prices.
Affordability however is another matter, with Balaclava's historical growth performance putting its median house price at more than $800,000. This is still cheaper than its neighbours such as St Kilda, Windsor and Caulfield North – where median house prices are between – suggesting Balaclava’s house market has room for growth.
Renters account for just under half of the suburb’s occupants, and its monthly vacancy rate has held firm at around 2% for several years, according to SQM Research.
Amenities are excellent, with scores of shops, cafes and restaurants lining Balaclava Road, and good schools being found in the area. Train times to the city from Balaclava station are around 15 minutes.
All of which has made Balaclava a highly sought after area, says Buyer Solutions’ Janet Spencer. She suggests targeting two- to three-bedroom single fronted Victorian cottages.
“A lot of people are seeking charm, so those old cottages sell very well. And of course they’re not making them anymore, so they’re a good investment from a supply and demand point of view,” she says.
And in terms of street selection, she picks out Talbot and Melby Avenues, on the cusp of Balaclava and St Kilda East, as two to watch: “They’re very good streets with a little almost secret park at the end – Greenmeadows Gardens.”