VIC has seen average median house prices change by 11.63% which means that South Yarra, 3141 has done well for property investors by showing a capital gain of 2.94% over the last year
Comparing South Yarra,3141 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Vendor discounting in South Yarra is giving property investors an average Vendor Discount of around -7.01%. This puts suburb at number 97th in VIC when ranking the most discounted suburbs.
South Yarra, 3141’s gross rental yield is 1.92%
VIC has seen average median house prices change by 6.52% which means that South Yarra, 3141 has done well for property investors by showing a capital gain of 5.05% over the last year
Across a shorter period, South Yarra, 3141 has seen a median price increase of 0.52% over the last quarter.
LACK OF BUYER INTEREST may well be the reason that South Yarra is offering property investors an average of -4.58. This rate of discount on properties puts Suburb at number 63th in terms of most discounted suburbs in VIC
Residents and property investors in South Yarra have been waiting around 79.97 days to sell a property.
Renters in Suburb are facing rents around $5520 per annum or $460 every week.
Richmond and South Yarra are premium suburbs for investors. Both suburbs offer exceptional amenity positioned within minutes to the CBD. Rental returns are reflected in the premium locale of both suburbs which in turn attracts high quality tenants and minimum vacancy days.Full summary
Information supplied by:
Melbourne Real Estate
03 9429 0455
Selling points: Richmond and South Yarra are premium suburbs for investors. Both suburbs offer exceptional amenity positioned within minutes to the CBD. Rental returns are reflected in the premium locale of both suburbs which in turn attracts high quality tenants and minimum vacancy days.
Most sought after properties: One bed apartments are always in high demand followed by two bedrooms with two baths. Both are popular with young urban professionals.
Most common properties: High rise apartments, ultra modern renovated homes as well as period homes.
Top amenities: World class restaurants, cosmopolitan cafes, high quality retail and some of Melbourne’s best schools. Positioned near the Yarra River offering kilometres of walking, running and bicycle tracks.
Local industry and businesses: Restaurants and retail as well as offices.
Recent changes: The Forest Hill Precinct has undergone a major revitalization in the last 5 years. What was once a dilapidated eyesore in a Blue Chip suburb is now home to world famous bars, restaurants and cafes. Luxurious buildings now dot the skyline of what was once a streetscape of warehouses.
Best streets: Tree lined streets close to the main shopping strips and public transport.
Public transport: Excellent. Trams, trains and busses are within short walking distance.
Main arteries: Easy access to freeways and toll roads. Minutes from the CBD.