With a capital gain of -4.59% for the last 12 months, Springvale South, 3172 has performed for property investments than its average annual 7.82% property growth over the last 5 years.
Over the longer term, Springvale South has seen property prices show investors a 23.37% return over the last 3 years. This is worse than over the last 12 months
LACK OF BUYER INTEREST may well be the reason that Springvale South is offering property investors an average of -6.14. This rate of discount on properties puts Suburb at number 55th in terms of most discounted suburbs in VIC
Situated 24.06km from the CBD, Springvale South is one of Greater Dandenong (C) localities in the postcode 3172.
VIC has seen average median house prices change by 1.93% which means that Springvale South, 3172 has done well for property investors by showing a capital gain of 10.25% over the last year
While Springvale South,3172 ranked number 114th in VIC for increase in median house value (annualised) increase, it is ranked 20th over the last 5 years.
Property investors looking for a bargain in Springvale South should be aiming for at least -4.73% off the asking price, which is the average vendor discount being achieved at the moment.
The VIC suburb of Springvale South, 3172 is in the Greater Dandenong (C) local government area.
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Numbers go up
Median unit price: $500,000
Three-year growth: 44.7%
Rental yield: 3.6%
24km from the Melbourne CBD, the suburb of Springvale South has seen steadfast growth since 2013, and shows no signs of letting up any time soon.
In the three months to June 2018, unit values spiked by 10.4%, bringing the median price to $500,000 at an average annual growth rate of 6.1%. There is high demand for apartments in this area, as evidenced by how those on the market are snapped up in less than a month on average.
Springvale South is part of the LGA of the City of Greater Dandenong, and is the location of Springvale South Primary School, Spring Parks Primary School, Heatherhill Primary School and Keysborough Secondary College. Springvale South is the immediate neighbour of Springville in the south, and is a food-lover’s dream, given the many available dining options in the area.