Over the last year, property investments in South Melbourne, 3205 have given investors a capital gain of -20.03%. This compares very badly with the 4.75% for VIC as a whole.
Taking the average capital gain, or increase in median house value, South Melbourne,3205 has racked up an average of -20.03% over the period. This ranks it number 3003th in the whole country for real estate investors looking at median house price increases.
Vendor discounting in South Melbourne is giving property investors an average Vendor Discount of around -6.38%. This puts suburb at number 264th in VIC when ranking the most discounted suburbs.
The VIC suburb of South Melbourne, 3205 is in the Port Phillip (C) local government area.
South Melbourne is an average performer in VIC when comparing median price capital growth over the last year. South Melbourne gave property investors a good capital gain figure when compared to the rest of the state, with 6.84%.
South Melbourne,3205 has offered an average of 6.84% return per annum in house price rises to property investors over the last three years.
South Melbourne, 3205 is offering VIC ‘s 192th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 40% of discounts offered by this VIC.
In the last year 155 properties changed hands in South Melbourne, which puts it as the 34th most active market in VIC when comparing the number of sales per suburb.
South Melbourne has a very strong commercial market, with local industries centred around media, design and marketing.
Information supplied by:
0412 566 962
03 9699 7500
Attractive vacancy rates and rental yields await investors looking to enter the commercial market, with renovated two-three level buildings and office warehouses being the most common properties.
Trendy office warehouses with an open plan environment are the most sought after, while the central location makes it attractive to professional tenants.
The area is serviced reasonably well by public transport and the suburb enjoys great access to all of Melbourne's major arterial roads.Full summary
Selling points: Strong vacancy rates for investors and unique smaller style space for owner occupiers.
Most sought after properties: Office warehouses with an open plan environment, or exposed ceilings and concrete are very attractive in this market. In relation to St Kilda Road, high-rise buildings, well fitted, with space are a must. The comparable low rents versus all other Australian building markets are also very attractive.
Most common properties: Renovated two-three level commercial building and unique office warehouses.
Top amenities: Clarendon St shopping area and South Melbourne market are prominent. Two new major developments including the Spotlight complex on Cecil St and Coles development on Clarendon Street.
Local industry and business: AusStereo, Spotlight and Mitchell’s and Partners are the large tenants in the area. Main industries include media, advertising, marketing, design, architects and developers.
Best streets: York Street (right in the hub of the district) and Albert Road (views over the lake and great access).
Public transport: Although it doesn’t have a train station it has two trams, one light rail and bus services.
Main arteries: Great access to all Melbourne major arterial roads and freeways, great access to the CBD only minutes away. Easy access to Port Philip Bay and Albert Park Lake.