Balaclava, 3183 ranked 461th in VIC when comparing growth in median property values or capital gain over the last 12 months. Balaclava is one of 2098 in our list for VIC
While Balaclava,3183 ranked number 609th in VIC for increase in median house value (annualised) increase, it is ranked 143th over the last 5 years.
Property buyers and investors in Balaclava 3183 should be seeing an average reduction in asking price of around -28.85% . This means that Balaclava is holding prices well when compared to other suburbs in VIC.
On average over the past year, suburb has had 2.75 sales per month, which equates to 33 per year.
At number 1470th in the list of Australian suburbs ordered by increase in median house value over the last year, Balaclava, 3183 is in the BOTTOM 20% with a property value increase of -6.79% recorded in median house prices.
Balaclava,3183 was ranked 1107 in Australia by increase in median property value over the quarter.
Balaclava, 3183 is offering VIC ‘s 187th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this VIC.
In the last year 85 properties changed hands in Balaclava, which puts it as the 102th most active market in VIC when comparing the number of sales per suburb.
Situated 6.63km from the CBD, Balaclava is one of Port Phillip localities in the postcode 3183.
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.”