If you compare the increase in value of investment property in Yallambie, 3085 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was -7.48%.
Across a shorter period, Yallambie, 3085 has seen a median price increase of -4.43% over the last quarter.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.82% offered to property buyers. Sellers in Yallambie itself are offering an average vendor discount of -6.73% to real estate investors.
Yallambie, 3085’s gross rental yield is 3.27%
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.