Property investors who have had real estate in South Melbourne, 3205 should be relatively pleased 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 9.11%
Comparing South Melbourne,3205 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Often selling an investment property can take time, and in South Melbourne the average time real estate has been on the market is 45.81 days.
Using the current median advertised rental of $575 and the average annual increase in value of a median property of 9.20%, investors should hope to achieve an overall return of 2.13%
Property investors who have had real estate in South Melbourne, 3205 should be 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 -12.21%
South Melbourne,3205 was ranked 1326 in Australia by increase in median property value over the quarter.
South Melbourne3205 is located in VIC which offers an average discount of -4.95% to property investors. South Melbourne itself is showing figures that indicate -6.04% is the average achievable by property buyers investing in the suburb.
A $500 per week rent on the median house gives suburb investors a gross yield of circa 4.52%, without taking into account capital value appreciation, which has been averaging out at 4.52%.
South Melbourne has a very strong commercial market, with local industries centred around media, design and marketing.
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Attractive vacancy rates and rental yields await investors looking to enter the commercial market, with renovated two-three level buildings and office warehouses being the most common properties.
Trendy office warehouses with an open plan environment are the most sought after, while the central location makes it attractive to professional tenants.
The area is serviced reasonably well by public transport and the suburb enjoys great access to all of Melbourne's major arterial roads.Full summary
Selling points: Strong vacancy rates for investors and unique smaller style space for owner occupiers.
Most sought after properties: Office warehouses with an open plan environment, or exposed ceilings and concrete are very attractive in this market. In relation to St Kilda Road, high-rise buildings, well fitted, with space are a must. The comparable low rents versus all other Australian building markets are also very attractive.
Most common properties: Renovated two-three level commercial building and unique office warehouses.
Top amenities: Clarendon St shopping area and South Melbourne market are prominent. Two new major developments including the Spotlight complex on Cecil St and Coles development on Clarendon Street.
Local industry and business: AusStereo, Spotlight and Mitchell’s and Partners are the large tenants in the area. Main industries include media, advertising, marketing, design, architects and developers.
Best streets: York Street (right in the hub of the district) and Albert Road (views over the lake and great access).
Public transport: Although it doesn’t have a train station it has two trams, one light rail and bus services.
Main arteries: Great access to all Melbourne major arterial roads and freeways, great access to the CBD only minutes away. Easy access to Port Philip Bay and Albert Park Lake.