Princes Hill

POSTAL CODE: VIC, 3054
HOUSE

Property investments in PRINCES HILL did not fare well against the rest of the country last year, registering a median home price decrease of 2.64%.

Figures from the previous quarter show that capital gains for real estate buyers in the territory are low, as opposed to average gains per annum over the past five years.

Based on its average 5-year and quarterly capital gains PRINCES HILL, 3054 saw average growth in the long term.

Real estate investors could earn a rental income of $975 based on current median home prices for the suburb.

It is expected, nonetheless, for properties to spend some time on the market prior to a successful sale. homes and units usually stay on listing for an average of N/A.

Besides that, the Australian suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.

Property investors perceived the median home price rise to $1,750,000.

PRINCES HILL ranks 437th on the list of best yielding suburbs for rental properties in VIC, posting a 2.9% return.

Surburb overview

Princes Hill, located approximately 3 kilometres north of Melbourne's Central Business District (CBD), is a small, picturesque suburb of Yarra. According to the 2021 census, it has a population of 2,005 residents.

Princes Hill attracts diverse residents, including professionals, singles, and families with children. The suburb is known for its peaceful atmosphere and strong community spirit.

The suburb offers various housing options, predominantly Victorian-era terraces and modern apartments. As of recent data, the median property price for a house is approximately $1,925,000, with an annual capital growth of 8.33%. Rental yields for houses are currently around 2.61%, with an average median rent of $750 per week.

Princes Hill is well-served by public transportation. Multiple tram lines run through the suburb, providing easy access to the CBD and surrounding areas. The nearby Royal Park railway station also offers train services to various parts of Melbourne.

The suburb is home to several educational institutions, including Princes Hill Primary School and Princes Hill Secondary College, both known for their vital academic programs.

Princes Hill boasts a vibrant community with numerous cafes, restaurants, and boutique shops, particularly along Lygon Street. Cultural attractions include the nearby Melbourne General Cemetery and the Princes Park, which contains the Princes Park Football Ground. The suburb's parks and green spaces provide residents ample outdoor and recreational opportunities. 

Princes Hill offers a unique blend of historical charm and modern urban living, making it a highly sought-after location for many residents. 

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