Giving property investors a a poor capital gain of -4.25% for the last year, South Yarra, 3141 is the 3913th highest performer in Australia in this respect.
While South Yarra,3141 ranked number 751th in VIC for increase in median house value (annualised) increase, it is ranked 599th over the last 5 years.
South Yarra3141 is located in VIC which offers an average discount of -4.31% to property investors. South Yarra itself is showing figures that indicate -6.30% is the average achievable by property buyers investing in the suburb.
Often selling an investment property can take time, and in South Yarra the average time real estate has been on the market is 57.5593 days.
A $700 per week rent on the median house gives suburb investors a gross yield of circa 2.00%, without taking into account capital value appreciation, which has been averaging out at 9.59%.
At number 1248th in the list of Australian suburbs ordered by increase in median house value over the last year, South Yarra, 3141 is in the BOTTOM 30% with a property value increase of -2.09% recorded in median house prices.
The five-year average increase in median property values for South Yarra,3141 has given property investors a potential capital gain of -5.65% across each of those five years.
Our latest figures would indicate that property sellers in South Yarra are currently offering property investors an average price cut of -6.34% below the asking price at the moment.
Residents and property investors in South Yarra have been waiting around 64.151 days to sell a property.
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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.