Chelsea Heights

POSTAL CODE: VIC, 3196

HOUSE

UNIT

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

The suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $990,000.

The upward trend in home prices in CHELSEA HEIGHTS, 3196 averaged 1.96% per annum over a 3-year period.

Average weekly rents on listings have reached the $625 mark, reflecting a 3.28% increase in returns based on the current median price in CHELSEA HEIGHTS.

An average of 5.08 real estate transactions take place per month in CHELSEA HEIGHTS which translates to 61 per annum.

61 properties were sold in CHELSEA HEIGHTS in 2016, making it the 140th most active market in VIC based on total real estate transactions.

CHELSEA HEIGHTS, 3196 places 159th in Australia based on median property value growth during the quarter.

The suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $795,500.

Average median unit prices in VIC have risen as a whole, pulling CHELSEA HEIGHTS, 3196 values up and netting property investors a capital gain of 7.39% for the past year.

Investors saw the median home price rise to $795,500.

The upward trend in home prices in CHELSEA HEIGHTS, 3196 averaged 9.44% per annum over a 3-year period.

CHELSEA HEIGHTS now ranks at the 73rd 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 HEIGHTS are low, as opposed to average gains per annum over the past five years.

Real estate investors could earn a rental income of N/A based on current median home prices for the suburb.

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

14 properties were sold in CHELSEA HEIGHTS in 2016, making it the 332nd most active market in VIC based on total real estate transactions.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$990,000	$795,500
Growth Report
Median Quarterly	3.66%	4.33%
Median 12 month	5.6%	7.39%
Median 3 years	5.88%	28.31%
Median 5 years	22.98%	23.05%
10 years average annual	5.56%	6.85%
Weekly media advert. rent	$625	N/A
Time on Market	24.9 days	N/A
Gross Rental Yield Percent	3.28%	0%

Demographics (Median Values)*

Total Population 25327

Weekly Household Income 1456

Household Size 2.40

Average 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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