Property investors who have had real estate in Yallambie, 3085 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 3.49%
When looking at the potential capital gains offered to property investors over the last 3 years, Yallambie comes in at number 442th in VIC.
A $460 per week rent on the median house gives suburb investors a gross yield of circa 2.96%, without taking into account capital value appreciation, which has been averaging out at 7.43%.
Information supplied by:
Melbourne neighbour maintains growth
Median house price: $812,500
Three-year growth: 23.5%
Rental yield: 2.9%
Located 16km northeast of the Melbourne CBD, the suburb of Yallambie is mainly known for being the location of the Simpson Army Barracks, which was established back in World War II. A large chunk of land in the vicinity of the barracks was claimed for residential purposes in the late 1980s. Nonetheless, the military presence remains strong with the ARPANSA Federal Government agency holding their base here.
The suburb is tucked between Greensborough Road and Plenty River, and is home to Streeton Primary School, which is a merger of the former Watsonia South Primary School and Yallambie Primary School. Yallambie Park Pre-School is situated on the same street.
Yallambie is rather pricey due to its proximity to Melbourne. Thus far, it has sustained its growth momentum over the year to December 2018, but the December 2018 quarter reported a slight dip in house values.