Suburb Profile Report for South Yarra VIC (3141)

South Yarra House: Median price $1,350,000, Annual capital growth 6.27%, Number of sales 145, Weekly median advertised rent $790

South Yarra Unit: Median price $538,500, Annual capital growth 2.36%, Number of sales 277, Weekly median advertised rent $480

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

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report
  • Unit Report

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.

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
$1,350,000 $538,500
4.85% -2.53%
-22.86% -6.14%
6.27% 2.36%
$790 $480
145 277
3.04% 4.64%
72.6521739130435 67.1065989847716

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (H), Above average (U)
Find a mortgage broker in South Yarra VIC
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
Chart Table