Southbank has had a very poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -5.00% to date .
When looking at the potential capital gains offered to property investors over the last 3 years, Southbank comes in at number 310th in VIC.
LACK OF BUYER INTEREST may well be the reason that Southbank is offering property investors an average of -4.58. This rate of discount on properties puts Suburb at number 61th in terms of most discounted suburbs in VIC
At number 1018 in a list of fastest selling suburbs, Southbank is in the bottom 40% of suburbs in Australia with an average of days on market 88.06 for properties listed there.
Using the current median advertised rental of $550 and the average annual increase in value of a median property of 1.74%, investors should hope to achieve an overall return of 5.20%
![YIP MAG]()
Information supplied by:
YIP MAG
February 2016
M
O
W
E
Concerns about an oversupply of apartments in inner-city Melbourne have been raised frequently in recent months, and the vacancy rate in Southbank could show there is something behind those worries.Full summary
Concerns about an oversupply of apartments in inner-city Melbourne have been raised frequently in recent months, and the vacancy rate in Southbank could show there is something behind those worries.
Just a kilometre from the Melbourne CBD, the riverside suburb currently has a vacancy rate of 11.3%.
Landlords who do manage to find a tenant are getting decent returns, with the average weekly rent of $530 meaning owners are seeing yields of 5%.
Properties aren’t performing too well on the capital growth side of the picture either: the median house price has fallen by 3% over the past year and currently sits at $560,000.
Vendors are also having to offer an average discount of 6% to see sales completed, with apartments spending on average 104 days on the market.
Close