Suburb Profile Report for South Yarra VIC (3141)

South Yarra House: Median price $1,850,000, Annual capital growth 6.71%, Number of sales 104, Weekly median advertised rent $775

South Yarra Unit: Median price $580,000, Annual capital growth 1.24%, Number of sales 364, Weekly median advertised rent $500

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

Source: Monthly data update for Jun 2020 as supplied by CoreLogic. Data is reported to the period ending Mar 2020. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report
  • Unit Report

Investment property in South Yarra has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 42.31%

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 increased when compared to the 5 year average annual rate.

On average over the past year, suburb has had 8.67 sales per month, which equates to 104 per year.

South Yarra, 3141’s gross rental yield is 2.18%

At number 697th in the list of Australian suburbs ordered by increase in median house value over the last year, South Yarra, 3141 is in the top half with a property value increase of 1.93% recorded in median house prices.

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.

Sellers are offering property buyers an average discount of -7.07% to buyers in South Yarra at the moment, which is less than average for the rest of VIC.

In the last year 364 properties changed hands in South Yarra, which puts it as the 5th most active market in VIC when comparing the number of sales per suburb.

Situated 3.86km from the CBD, South Yarra is one of Stonnington (C) localities in the postcode 3141.

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
$1,850,000 $580,000
17.09% 3.57%
42.31% 1.93%
6.71% 1.24%
$775 $500
104 364
2.18% 4.48%
47 55.1415525114155

Source: Monthly data update for Jun 2020 as supplied by CoreLogic. Data is reported to the period ending Mar 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Balanced (H), Balanced (U)
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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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