VIC has seen average median house prices change by 8.91% which means that Caulfield North, 3161 has done well for property investors by showing a capital gain of 1.63% over the last year
When looking at the potential capital gains offered to property investors over the last 3 years, Caulfield North comes in at number 260th in VIC.
Vendor discounting in Caulfield North is giving property investors an average Vendor Discount of around -8.30%. This puts suburb at number 50th in VIC when ranking the most discounted suburbs.
Caulfield North has had a pretty good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 12.24% to date .
When looking at the potential capital gains offered to property investors over the last 3 years, Caulfield North comes in at number 263th in VIC.
LACK OF BUYER INTEREST may well be the reason that Caulfield North is offering property investors an average of -4.60. This rate of discount on properties puts Suburb at number 27th in terms of most discounted suburbs in VIC
A $450 per week rent on the median house gives suburb investors a gross yield of circa 3.69%, without taking into account capital value appreciation, which has been averaging out at 4.10%.
Close to the CBD and surrounded by parks, prestigious schools and outstanding public transport, Caulfield North is one of the most established and popular areas of Melbourne suburbia.Full summary
Information supplied by:
Gary Peer & Associates
0414 532 778
03 9526 1999
Selling points: Caulfield North is situated close to the city (9km), surrounded by public transport, outstanding shopping strips, fine parks and some of Melbourne’s most prestigious schools. It is a very established and popular area.
Most sought after properties: Family homes on good blocks are tightly held and very sought after . Apartments in and around $400K-$600K are in hot demand.
Most common properties: There is an interesting mix of all eras. Some old Victorian and Edwardian homes have been retained and many have been well restored, there are many brand new homes and stylish developments. In Elsternwick many homes and streets are heritage protected ensuring period style homes are retained.
Local industry and business: There are many offices, shops and restaurants. Factories are almost non-existent in this area.
Recent changes: Main roads have been “green lighted” for high density development – which is prolific. Outside of this there are a few boutique developments and plenty of home improvement/renovations.
Best streets: In Elsternwick leafy Elizabeth Street and St Georges Road are the prestige addresses. They both are home to huge period homes. In Caulfield North – Howitt Road is considered the area’s best with modern mansions on huge allotments. Findon Avenue, Cantala Avenue and Waiora Road border the exclusive suburb of Armadale and are also highly rated as are the streets surrounding Howitt Road (Lumeah Road, Aroona Road).
Public transport: OUTSTANDING – Trams, a number of rail stations and buses all brilliantly service the area.
Main arteries: The beach is easily accessible by travelling west through St Kilda and Elwood. The city is also easy to get to (approx. 15 minute drive).