Giving property investors a a stable capital gain of 11.54% for the last year, South Melbourne, 3205 is the 1268th highest performer in Australia in this respect.
If we look at median property appreciation over just the last three months, South Melbourne has given property investors a paper return of 6.62%. This puts Suburb as 90 on a list of fastest fasting appreciating suburbs in VIC
Vendor discounting in South Melbourne is giving property investors an average Vendor Discount of around -4.57%. This puts suburb at number 336th in VIC when ranking the most discounted suburbs.
Using the current median advertised rental of $590 and the average annual increase in value of a median property of 9.13%, investors should hope to achieve an overall return of 2.12%
South Melbourne, 3205 ranked 329th in VIC when comparing growth in median property values or capital gain over the last 12 months. South Melbourne is one of 2098 in our list for VIC
South Melbourne,3205 has offered an average of -5.65% return per annum in house price rises to property investors over the last three years.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in South Melbourne, 3205. Typically our figures indicate that -6.24% is being offered, which puts this VIC suburb at 411th most discounted overall in Australia.
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.