At number 4114th in the list of Australian suburbs ordered by increase in median house value over the last year, St Kilda, 3182 is in the BOTTOM 10% with a property value increase of -19.24% recorded in median house prices.
If we look at median property appreciation over just the last three months, St Kilda has given property investors a paper return of -19.24%. This puts Suburb as 699 on a list of fastest fasting appreciating suburbs in VIC
Property investors looking for a bargain in St Kilda should be aiming for at least -9.92% off the asking price, which is the average vendor discount being achieved at the moment.
At number 1013 in a list of fastest selling suburbs, St Kilda is in the TOP 30% of suburbs in Australia with an average of days on market 54.21 for properties listed there.
Renters in Suburb are facing rents around $6480 per annum or $540 every week.
St Kilda has had a very poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -8.21% to date .
Taking the average capital gain, or increase in median house value, St Kilda,3182 has racked up an average of -8.21% over the period. This ranks it number 1210th in the whole country for real estate investors looking at median house price increases.
St Kilda, 3182 is offering VIC ‘s 95th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 30% of discounts offered by this VIC.
Renters in Suburb are facing rents around $4980 per annum or $415 every week.
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.”