Property investors who have had real estate in Camberwell, 3124 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 increase in value by 6.98%
Over the longer term, Camberwell has seen property prices show investors a 4.55% return over the last 3 years. This is an improvement over the last 12 months
Sellers are offering property buyers an average discount of -5.37% to buyers in Camberwell at the moment, which is less than average for the rest of VIC.
Situated 10.32km from the CBD, Camberwell is one of Boroondara (C) localities in the postcode 3124.
Giving property investors a a poor capital gain of -4.09% for the last year, Camberwell, 3124 is the 1439th highest performer in Australia in this respect.
Across a shorter period, Camberwell, 3124 has seen a median price increase of -3.98% over the last quarter.
Camberwell, 3124 is offering VIC ‘s 118th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this VIC.
Often selling an investment property can take time, and in Camberwell the average time real estate has been on the market is 54.3438 days.
Property investors should expect to get $440 weekly from the median priced house in this suburb.
Information supplied by:
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.