At number 3843th in the list of Australian suburbs ordered by increase in median house value over the last year, Camberwell, 3124 is in the BOTTOM 10% with a property value increase of -15.45% recorded in median house prices.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Camberwell has increased when compared to the 5 year average annual rate.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.54% offered to property buyers. Sellers in Camberwell itself are offering an average vendor discount of -7.15% to real estate investors.
Giving property investors a an average capital gain of -3.76% for the last year, Camberwell, 3124 is the 877th highest performer in Australia in this respect.
While Camberwell,3124 ranked number 200th in VIC for increase in median house value (annualised) increase, it is ranked 181th over the last 5 years.
At number 51th of VIC’s most discounted properties, Camberwell is in the bottom 30% of the state/territory when listing in order of most discounted to least.
A $460 per week rent on the median house gives suburb investors a gross yield of circa 3.12%, without taking into account capital value appreciation, which has been averaging out at 4.91%.
Information supplied by:
Renters back down
Median unit price: $855,000
Rental vacancy rate: 6.5%
Three-year growth: 24.1%
Part of the Boroondara LGA, the large suburb of Camberwell is known for its historic houses and its peaceful, leafy streets – in fact, Camberwell is among Melbourne’s most prestigious suburbs.
Despite the hefty price tag, buyers have not shied away from this suburb, with demand consistent pushing values upward. Tenants, however, tell a different story as the average rental vacancy rate rose as well from 5.6% to 6.5% in the year to August 2018. The average rent rate comes in at $450 per week, with landlords reaping 2.7% returns on average.
The Burke Road shopping strip is found here, and halfway along this strip is the Camberwell railway station – a large terminal that serves the train lines for Belgrave, Lilydale and Alamein. The suburb is also connected to Burke Road, Toorak Road, Riversdale Road and Warrigal Road.