AREA REPORTS

Chelsea

VIC/
Chelsea

Suburb Profile

Chelsea - FREE 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 2.77% for the past year.

Investors saw the median home price rise to $919,750.

Profits due to an upward trend in home prices in the suburb averaged 15.68% per annum over a 3-year period.

CHELSEA now ranks at the 302nd 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 $450 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 35.6 days.

In 2016, 76 properties were sold in CHELSEA during the past year, making it the 86th most active market in VIC based on total real estate transactions.

Data report can be found below

KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $919,750 $610,000
GROWTH REPORT
Median Quarterly 0.35% 1.67%
Median 12 month 2.77% 5.57%
Median 3 years 47.04% 31.18%
Median 5 years 71.6% 56.76%
10 years average annual 7.53% 6.9%
Weekly media advert. rent $450 $375
Time on Market 35.6 days 47.8 days
Gross Rental Yield Percent 2.54% 3.2%
demographics (median values)
Total Population
6697
Weekly Household Income
747.2
Household Size
2.00
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