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South Melbourne

Suburb Profile

South Melbourne - FREE SUBURB PROFILE REPORT
POSTAL CODE: VIC,3205

house
unit

Property investments in SOUTH MELBOURNE did not fare well against the rest of the country last year, registering a median home price decrease of 13.33%.

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

Based on its average 5-year and quarterly capital gains SOUTH MELBOURNE, 3205 saw average growth in the long term.

Real estate investors could earn a rental income of $700 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 59.9 days.

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 $1,360,000.

SOUTH MELBOURNE ranks 514th on the list of best yielding suburbs for rental properties in VIC, posting a 2.68% return.

Data report can be found below

KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $1,360,000 $599,000
GROWTH REPORT
Median Quarterly 5.43% 2.6%
Median 12 month 13.33% -2.36%
Median 3 years -2.86% 1.53%
Median 5 years 16.6% 5.19%
10 years average annual 4.94% 1.48%
Weekly media advert. rent $700 $530
Time on Market 59.9 days 67.3 days
Gross Rental Yield Percent 2.68% 4.6%
demographics (median values)
Total Population
8787
Weekly Household Income
1164
Household Size
2.00
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