Investment property in Springvale South has done pretty 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 -3.11%
Taking the average capital gain, or increase in median house value, Springvale South,3172 has racked up an average of -3.11% over the period. This ranks it number 2157th in the whole country for real estate investors looking at median house price increases.
Springvale South, 3172 is offering VIC ‘s 205th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this VIC.
Residents and property investors in Springvale South have been waiting around 82.3939 days to sell a property.
Using the current median advertised rental of $400 and the average annual increase in value of a median property of 6.15%, investors should hope to achieve an overall return of 3.03%
Property investors who have had real estate in Springvale South, 3172 should be unhappy with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -11.12%
Across a shorter period, Springvale South, 3172 has seen a median price increase of 1.06% over the last quarter.
At number 154 in a list of fastest selling suburbs, Springvale South is in the TOP 20% of suburbs in Australia with an average of days on market 50.2174 for properties listed there.
Information supplied by:
Numbers go up
Median unit price: $500,000
Three-year growth: 44.7%
Rental yield: 3.6%
24km from the Melbourne CBD, the suburb of Springvale South has seen steadfast growth since 2013, and shows no signs of letting up any time soon.
In the three months to June 2018, unit values spiked by 10.4%, bringing the median price to $500,000 at an average annual growth rate of 6.1%. There is high demand for apartments in this area, as evidenced by how those on the market are snapped up in less than a month on average.
Springvale South is part of the LGA of the City of Greater Dandenong, and is the location of Springvale South Primary School, Spring Parks Primary School, Heatherhill Primary School and Keysborough Secondary College. Springvale South is the immediate neighbour of Springville in the south, and is a food-lover’s dream, given the many available dining options in the area.