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Chelsea
AREA REPORTS

Chelsea

Chelsea - SUBURB PROFILE REPORT
POSTAL CODE: VIC, 3196

house
unit

CHELSEA, 3196 delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.

Average median house prices in VIC have risen as a whole, pulling CHELSEA, 3196 values up and netting property investors a capital gain of 24.77% for the past year.

Investors saw the median home price rise to $1,151,000.

Profits due to an upward trend in home prices in the suburb averaged 14.78% per annum over a 3-year period.

CHELSEA now ranks at the 502nd place on a list of fastest growing suburbs in the territory.

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

Because of this real estate investors could earn a rental income of $495 based on current median home prices.

Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In CHELSEA, homes and units usually stay on listing for an average of 29.6 days.

In 2016, 67 properties were sold in CHELSEA during the past year, making it the 109th most active market in VIC based on total real estate transactions.

Data report can be found below

Chelsea
KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $1,151,000 $695,000
GROWTH REPORT
Median Quarterly 1.86% 2.21%
Median 12 month 24.77% 8.59%
Median 3 years 44.33% 14.88%
Median 5 years 37.02% 36.27%
10 years average annual 8.73% 6.69%
Weekly media advert. rent $495 $410
Time on Market 29.6 days 39.0 days
Gross Rental Yield Percent 2.24% 3.07%
demographics (median values)*
Total Population
25327
Weekly Household Income
1456
Household Size
2.40
Age
40
Monthly Loan Repayment
1845
* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.
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