Property investors who have had real estate in Yallambie, 3085 should be relatively unhappy with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -8.59%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Yallambie has increased when compared to the 5 year average annual rate.
Property investors looking for a bargain in Yallambie should be aiming for at least -7.19% off the asking price, which is the average vendor discount being achieved at the moment.
Property investors should expect to get $472.5 weekly from the median priced house in this suburb.
Information supplied by:
Melbourne neighbour maintains growth
Median house price: $812,500
Three-year growth: 23.5%
Rental yield: 2.9%
Located 16km northeast of the Melbourne CBD, the suburb of Yallambie is mainly known for being the location of the Simpson Army Barracks, which was established back in World War II. A large chunk of land in the vicinity of the barracks was claimed for residential purposes in the late 1980s. Nonetheless, the military presence remains strong with the ARPANSA Federal Government agency holding their base here.
The suburb is tucked between Greensborough Road and Plenty River, and is home to Streeton Primary School, which is a merger of the former Watsonia South Primary School and Yallambie Primary School. Yallambie Park Pre-School is situated on the same street.
Yallambie is rather pricey due to its proximity to Melbourne. Thus far, it has sustained its growth momentum over the year to December 2018, but the December 2018 quarter reported a slight dip in house values.