South Melbourne

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 12.69%.

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 $725 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 70.8 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 $1,710,000.

SOUTH MELBOURNE ranks 543rd on the list of best yielding suburbs for rental properties in VIC, posting a 2.2% return.

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

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

Profits due to an downward trend in home prices in SOUTH MELBOURNE, 3205 averaged -0.14% per annum over a 3-year period.

Average weekly rents on listings have reached the $650 mark, reflecting a 5.7% increase in returns based on the current median price in SOUTH MELBOURNE.

An average of 19.58 real estate transactions take place per month in SOUTH MELBOURNE which translates to 235 per annum.

235 properties were sold in SOUTH MELBOURNE during the past year, making it the 238th most active market in VIC based on total real estate transactions.

SOUTH MELBOURNE, 3205 places 311th in Australia based on median property value growth during the quarter.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$1,710,000	$592,500
Growth Report
Median Quarterly	14%	-1.25%
Median 12 month	12.69%	3.46%
Median 3 years	-7.94%	-0.42%
Median 5 years	9.27%	0.42%
10 years average annual	4.55%	0.4%
Weekly media advert. rent	$725	$650
Time on Market	70.8 days	62 days
Gross Rental Yield Percent	2.2%	5.7%

Demographics (Median Values)*

Total Population 10920

Weekly Household Income 1842

Household Size 2.00

Average Age 36

Monthly Loan Repayment 2167

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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