Suburb Profile Report for South Yarra VIC (3141)

South Yarra House: Median price $1,824,000, Annual capital growth 9.59%, Number of sales 119, Weekly median advertised rent $700

South Yarra Unit: Median price $585,000, Annual capital growth 1.19%, Number of sales 402, Weekly median advertised rent $425

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Jun 2021 as supplied by CoreLogic. Data is reported to the period ending Mar 2021. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report
  • Unit Report

Giving property investors a a poor capital gain of -4.25% for the last year, South Yarra, 3141 is the 3913th highest performer in Australia in this respect.

While South Yarra,3141 ranked number 751th in VIC for increase in median house value (annualised) increase, it is ranked 599th over the last 5 years.

South Yarra3141 is located in VIC which offers an average discount of -4.31% to property investors. South Yarra itself is showing figures that indicate -6.30% is the average achievable by property buyers investing in the suburb.

Often selling an investment property can take time, and in South Yarra the average time real estate has been on the market is 57.5593 days.

A $700 per week rent on the median house gives suburb investors a gross yield of circa 2.00%, without taking into account capital value appreciation, which has been averaging out at 9.59%.

At number 1248th in the list of Australian suburbs ordered by increase in median house value over the last year, South Yarra, 3141 is in the BOTTOM 30% with a property value increase of -2.09% recorded in median house prices.

The five-year average increase in median property values for South Yarra,3141 has given property investors a potential capital gain of -5.65% across each of those five years.

Our latest figures would indicate that property sellers in South Yarra are currently offering property investors an average price cut of -6.34% below the asking price at the moment.

Residents and property investors in South Yarra have been waiting around 64.151 days to sell a property.

Information supplied by:


August 2018

M
O

W
E

Tenants flood into the inner city

Postcode: 3141

Median unit price: $570,000

Vacancy rate: 2.9%

Three-year growth: -0.9%

The tenant population swelled in the suburb of South Yarra as the average vacancy rate dropped from 3.6% in May 2017 to 2.9% 12 months later.

This inner-city suburb sits just 4km southeast of the Melbourne CBD, making it a very accessible for working professionals. The average weekly rent comes in at $465, with landlords gaining an average return of 4.2%. This is a reasonable rate considering South Yarra’s location.

The suburb is a shopping and café district, with most of the action centred along Toorak Road and Chapel Street. It is also a hub of public transport, with two railway stations, namely, the South Yarra and Hawksburn stations.

Nonetheless, growth is starting to slip in this suburb despite its convenience. Unit prices started falling in 2015, and this trend has continued, with values decreasing by 1.2% in the May 2017-2018 period.

Metrics i HOUSE UNIT
$1,824,000 $585,000
-3.24% -1.02%
-4.25% -2.09%
9.59% 1.19%
$700 $425
119 402
2.00% 3.78%
57.5593220338983 64.1510204081633

Source: Monthly data update for Jun 2021 as supplied by CoreLogic. Data is reported to the period ending Mar 2021. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Balanced (U), Above average (H)
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Demographics
Total population 19134
Median household income ($/weekly) 1693
Median age of persons 33
Median housing loan repayment ($/monthly) 2300
Average household size 1.9
  • Census Count Percent(%)
    20-24 years 1935 10.1
    25-34 years 6177 32.3
    35-44 years 2909 15.2
    45-54 years 1872 9.8
    55-64 years 1804 9.4
    Others 4437 23.2
    Age Group
    Census Count Percent(%)
    Not Married 8186 54.3
    Registered Married 4372 29.0
    Defacto Relationship 2514 16.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 10815 62.7
    Indonesia 471 2.7
    Papua New Guinea 708 4.1
    United Kingdom 1041 6.0
    Other 1311 7.6
    Others 2897 16.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 551 3.4
    Christianity 8421 51.2
    Hinduism 433 2.6
    Judaism 603 3.7
    No Religion 6022 36.6
    Others 402 2.4
    Religious Affiliation
  • Census Count Percent(%)
    $1,000-$1,249 680 8.2
    $1,250-$1,499 714 8.6
    $1,500-$1,999 1067 12.9
    $2,500-$2,999 1334 16.1
    $4,000 or more 676 8.2
    Others 3818 46.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 8555 53.5
    Not in the labour force 3844 24.0
    Employed, worked part-time 2526 15.8
    Unemployed, looking for work 549 3.4
    Employed, away from work 524 3.3
    Person Characteristics
  • Census Count Percent(%)
    Managers 2051 17.7
    Professionals 5095 43.9
    Community & personal service workers 826 7.1
    Clerical & administrative workers 1495 12.9
    Sales 920 7.9
    Others 1219 10.5
    Occupation
    Census Count Percent(%)
    Infants/Primary 498 14.3
    Secondary 570 16.4
    Technical or Further Educational Institution 319 9.2
    University or other Tertiary Institutions 1763 50.6
    Other type of educational institution 194 5.6
    Others 138 4.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Flat, unit or apartment 10534 62.8
    Separate house 3261 19.4
    Semi-detached, row or terrace house, townhouse 2935 17.5
    House or flat attached to a shop, office 38 0.2
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 5544 62.0
    Fully owned 1832 20.5
    Being purchased 1519 17.0
    Other tenure type 47 0.5
    Tenure Type
Census 2011, ABS
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