If you compare the increase in value of investment property in Princes Hill, 3054 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was -0.70%.
Across a shorter period, Princes Hill, 3054 has seen a median price increase of -5.50% over the last quarter.
Using the current median advertised rental of $680 and the average annual increase in value of a median property of 11.32%, investors should hope to achieve an overall return of 2.01%
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 $1,895,000Full summary
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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.Close