If you compare the increase in value of investment property in Camberwell, 3124 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was -12.56%.
Across a shorter period, Camberwell, 3124 has seen a median price increase of 1.62% over the last quarter.
LACK OF BUYER INTEREST may well be the reason that Camberwell is offering property investors an average of -6.90. This rate of discount on properties puts Suburb at number 199th in terms of most discounted suburbs in VIC
At number 944 in a list of fastest selling suburbs, Camberwell is in the TOP 30% of suburbs in Australia with an average of days on market 62.79 for properties listed there.
Renters in Suburb are facing rents around $42640 per annum or $820 every week.
Over the last year, property investments in Camberwell, 3124 have given investors a capital gain of -5.41%. This compares badly with the 0.68% for VIC as a whole.
Over the longer term, Camberwell has seen property prices show investors a 5.03% return over the last 3 years. This is worse than over the last 12 months
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Camberwell, 3124. Typically our figures indicate that -7.22% is being offered, which puts this VIC suburb at 366th most discounted overall in Australia.
Property investors should expect to get $475 weekly from the median priced house in this suburb.
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Renters back down
Median unit price: $855,000
Rental vacancy rate: 6.5%
Three-year growth: 24.1%
Part of the Boroondara LGA, the large suburb of Camberwell is known for its historic houses and its peaceful, leafy streets – in fact, Camberwell is among Melbourne’s most prestigious suburbs.
Despite the hefty price tag, buyers have not shied away from this suburb, with demand consistent pushing values upward. Tenants, however, tell a different story as the average rental vacancy rate rose as well from 5.6% to 6.5% in the year to August 2018. The average rent rate comes in at $450 per week, with landlords reaping 2.7% returns on average.
The Burke Road shopping strip is found here, and halfway along this strip is the Camberwell railway station – a large terminal that serves the train lines for Belgrave, Lilydale and Alamein. The suburb is also connected to Burke Road, Toorak Road, Riversdale Road and Warrigal Road.