Investment property in South Yarra has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -25.71%
Across a shorter period, South Yarra, 3141 has seen a median price increase of 1.96% over the last quarter.
South Yarra, 3141 is offering VIC ‘s 295th 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.
The VIC suburb of South Yarra, 3141 is in the Stonnington (C) local government area.
Giving property investors a an unimpressive capital gain of -9.01% for the last year, South Yarra, 3141 is the 1166th highest performer in Australia in this respect.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in South Yarra has fallen somewhat when compared to the 5 year average annual rate.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in South Yarra, 3141. Typically our figures indicate that -6.87% is being offered, which puts this VIC suburb at 450th most discounted overall in Australia.
With the median price for a house in South Yarra being $525000 and the advertised rent reaching $475 the gross rental yield for property investors calculates out to be 4.70%
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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.