West Melbourne has had a pretty good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 15.66% to date .
Comparing West Melbourne,3003 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
A $550 per week rent on the median house gives suburb investors a gross yield of circa 2.38%, without taking into account capital value appreciation, which has been averaging out at 10.26%.
Giving property investors a an average capital gain of 5.99% for the last year, West Melbourne, 3003 is the 743th highest performer in Australia in this respect.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in West Melbourne has increased when compared to the 5 year average annual rate.
On average over the past year, suburb has had 15.75 sales per month, which equates to 189 per year.
Situated 0.64km from the CBD, West Melbourne is one of Melbourne localities in the postcode 3003.