Property value increases in Springvale South have tracked lower than the VIC average of -1.79% over the last 12 months.
Comparing Springvale South,3172 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
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 Springvale South, 3172. Typically our figures indicate that -8.97% is being offered, which puts this VIC suburb at 514th most discounted overall in Australia.
With the median price for a house in Springvale South being $665000 and the advertised rent reaching $390 the gross rental yield for property investors calculates out to be 3.05%
Springvale South, 3172 ranked 215th in VIC when comparing growth in median property values or capital gain over the last 12 months. Springvale South is one of 2099 in our list for VIC
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Springvale South has increased when compared to the 5 year average annual rate.
Springvale South3172 is located in VIC which offers an average discount of -6.31% to property investors. Springvale South itself is showing figures that indicate -7.95% is the average achievable by property buyers investing in the suburb.
Renters in Suburb are facing rents around $18720 per annum or $360 every week.
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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.