Princes Hill has had a very poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -13.44% to date .
A 19.88% growth in median value for property investors in Princes Hill,3054 puts this suburb at number 703th in terms of best performing suburbs in VIC
Using the current median advertised rental of $690 and the average annual increase in value of a median property of 7.36%, investors should hope to achieve an overall return of 2.38%
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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.