VIC has seen average median house prices change by 8.27% which means that Port Melbourne, 3207 has done well for property investors by showing a capital gain of 7.13% over the last year
Port Melbourne,3207 was ranked 2573 in Australia by increase in median property value over the quarter.
Property investors looking for a bargain in Port Melbourne should be aiming for at least -3.46% off the asking price, which is the average vendor discount being achieved at the moment.
Renters in Suburb are facing rents around $7800 per annum or $650 every week.
Port Melbourne has had a very poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -5.10% to date .
Across a shorter period, Port Melbourne, 3207 has seen a median price increase of -4.18% over the last quarter.
Port Melbourne, 3207 is offering VIC ‘s 231th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 30% of discounts offered by this VIC.
Residents and property investors in Port Melbourne have been waiting around 69.18 days to sell a property.
With the median price for a house in Port Melbourne being $688000 and the advertised rent reaching $540 the gross rental yield for property investors calculates out to be 4.08%