VIC has seen average median house prices change by 7.80% which means that Port Melbourne, 3207 has done well for property investors by showing a capital gain of 13.01% over the last year
If we look at median property appreciation over just the last three months, Port Melbourne has given property investors a paper return of 2.18%. This puts Suburb as 244 on a list of fastest fasting appreciating suburbs in VIC
Property investors looking for a bargain in Port Melbourne should be aiming for at least -4.04% off the asking price, which is the average vendor discount being achieved at the moment.
In the last year 149 properties changed hands in Port Melbourne, which puts it as the 166th most active market in VIC when comparing the number of sales per suburb.
Situated 3.43km from the CBD, Port Melbourne is one of Port Phillip localities in the postcode 3207.
Port Melbourne, 3207 ranked 233th in VIC when comparing growth in median property values or capital gain over the last 12 months. Port Melbourne is one of 2098 in our list for VIC
Comparing Port Melbourne,3207 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Sellers are offering property buyers an average discount of -4.38% to buyers in Port Melbourne at the moment, which is less than average for the rest of VIC.
A $540 per week rent on the median house gives suburb investors a gross yield of circa 3.95%, without taking into account capital value appreciation, which has been averaging out at 4.43%.