South Yarra is in the bottom 10% in VIC when comparing median price capital growth over the last year. South Yarra gave property investors a dismal capital gain figure when compared to the rest of the state, with -22.86%.
Taking the average capital gain, or increase in median house value, South Yarra,3141 has racked up an average of -22.86% over the period. This ranks it number 3690th in the whole country for real estate investors looking at median house price increases.
LACK OF BUYER INTEREST may well be the reason that South Yarra is offering property investors an average of -6.90. This rate of discount on properties puts Suburb at number 322th in terms of most discounted suburbs in VIC
Using the current median advertised rental of $790 and the average annual increase in value of a median property of 6.27%, investors should hope to achieve an overall return of 3.04%
VIC has seen average median house prices change by 0.68% which means that South Yarra, 3141 has done well for property investors by showing a capital gain of -6.14% over the last year
Taking the average capital gain, or increase in median house value, South Yarra,3141 has racked up an average of -6.14% over the period. This ranks it number 1324th in the whole country for real estate investors looking at median house price increases.
Property buyers and investors in South Yarra 3141 should be seeing an average reduction in asking price of around -7.36% . This means that South Yarra is holding prices well when compared to other suburbs in VIC.
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Tenants flood into the inner city
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.