At number 38th in the list of Australian suburbs ordered by increase in median house value over the last year, St Kilda, 3182 is in the top 10% with a property value increase of 32.16% recorded in median house prices.
Over the longer term, St Kilda has seen property prices show investors a 2.07% return over the last 3 years. This is an improvement over the last 12 months
LACK OF BUYER INTEREST may well be the reason that St Kilda is offering property investors an average of -6.90. This rate of discount on properties puts Suburb at number 259th in terms of most discounted suburbs in VIC
Advertised rents are around the $710 mark per week – giving a return of 3.02% based on the median price in Suburb
St Kilda, 3182 ranked 208th in VIC when comparing growth in median property values or capital gain over the last 12 months. St Kilda is one of 2099 in our list for VIC
St Kilda,3182 has offered an average of 0.10% return per annum in house price rises to property investors over the last three years.
Our latest figures would indicate that property sellers in St Kilda are currently offering property investors an average price cut of -7.07% below the asking price at the moment.
At number 597 in a list of fastest selling suburbs, St Kilda is just in the top half of suburbs in Australia with an average of days on market 77.6857 for properties listed there.
Situated 5.79km from the CBD, St Kilda is one of Port Phillip (C) localities in the postcode 3182.
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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.”