St Kilda is in the bottom 10% in VIC when comparing median price capital growth over the last year. St Kilda gave property investors a dismal capital gain figure when compared to the rest of the state, with -29.89%.
If we look at median property appreciation over just the last three months, St Kilda has given property investors a paper return of -6.77%. This puts Suburb as 663 on a list of fastest fasting appreciating suburbs in VIC
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 St Kilda, 3182. Typically our figures indicate that -8.06% is being offered, which puts this VIC suburb at 651th most discounted overall in Australia.
On average over the past year, suburb has had 4.83 sales per month, which equates to 58 per year.
Giving property investors a an unimpressive capital gain of -5.45% for the last year, St Kilda, 3182 is the 1350th highest performer in Australia in this respect.
St Kilda,3182 was ranked 652 in Australia by increase in median property value over the quarter.
Property investors looking for a bargain in St Kilda should be aiming for at least -5.35% off the asking price, which is the average vendor discount being achieved at the moment.
Situated 5.29km from the CBD, St Kilda is one of Port Phillip localities in the postcode 3182.
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. Full summary
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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.”