Over the last year, property investments in Princes Hill, 3054 have given investors a capital gain of -12.44%. This compares very badly with the 4.41% for VIC as a whole.
A 42.56% growth in median value for property investors in Princes Hill,3054 puts this suburb at number 709th in terms of best performing suburbs in VIC
In the last year 15 properties changed hands in Princes Hill, which puts it as the 645th most active market in VIC when comparing the number of sales per suburb.
Advertised rents are around the $730 mark per week – giving a return of 2.20% based on the median price in Suburb
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Median house price: $1,895,000
Three-year growth: 59.2%
Rental yield: 1.9%
Named for the Prince of Wales, the small suburb of Princes Hill in Melbourne’s inner city is one of the most expensive in Victoria, commanding a median house price of $1,895,000.
Values skyrocketed by 38.2% in the past 12 months leading up to December 2017, and the market boasts an average annual growth rate of 9.4%. This signifies the strength of the demand in this pocket.
The Princes Hill Community centre offers a variety of classes and activities, including art workshops and community gardening. The suburb’s location only 3km from Melbourne means that the city’s many amenities are within easy reach. The neighbouring suburb of Brunswick also has a bustling shopping and restaurant scene, along with schools like Brunswick Secondary College and Brunswick North Primary School.