With a capital gain of -10.31% for the last 12 months, St Kilda, 3182 has performed for property investments than its average annual 4.70% property growth over the last 5 years.
Comparing St Kilda,3182 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
The most recent median price for St Kilda is $1000000, with sellers offering an average of -6.75% off the asking price.
The VIC suburb of St Kilda, 3182 is in the Port Phillip (C) local government area.
At number 874th in the list of Australian suburbs ordered by increase in median house value over the last year, St Kilda, 3182 is in the BOTTOM 50% with a property value increase of -3.85% recorded in median house prices.
When looking at the potential capital gains offered to property investors over the last 3 years, St Kilda comes in at number 291th in VIC.
Vendor discounting in St Kilda is giving property investors an average Vendor Discount of around -6.65%. This puts suburb at number 105th in VIC when ranking the most discounted suburbs.
With the median price for a house in St Kilda being $500000 and the advertised rent reaching $430 the gross rental yield for property investors calculates out to be 4.47%
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Next to Balaclava, St Kilda is a popular lifestyle suburb with strong historical capital growth rates that’s right on the bay, but also within 10km of Melbourne’s CBD. Apartments dominate the market, and WBP’s Sean Thomson suggests that it’s this section of the market that investors will want to target.
“For an investor, with the way that lifestyles are changing in those areas, I’d suggest looking at one- or two-bedroom apartments and staying in boutique style blocks of six to 20 apartments and where the land value is quite substantial,” he says.
“Within those boutique blocks, look for something that is unique,” advises Thomson. “This could be the position within the block, the floor plan or the condition of the property.”
He adds that modern high rise apartments tend to be quite small, and that the body corporate fees in high rises can be quite high.
“There could be lifts, cleaning, swimming pools and services that as an investor you don’t need to be forking out for. The land component per unit is also small compared to a boutique development.”
He also suggests looking at the more picturesque St Kilda and St Kilda West, rather than heading inland to St Kilda East.
“St Kilda West backs up to Middle Park, and you’re in close proximity to Fitzroy Street – one of the main streets in St Kilda where a lot of cafés, restaurants and amenities are – and the Bay area,” he says. “It’s got the bay on one side, and parkland on the other. It’s a stunning location with easy access to the city by light rail.”