VIC/
South melbourne

Suburb Profile

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

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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 10.33%.

Figures from the previous quarter show that capital gains for real estate buyers in the territory are low, 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 $620 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 41.0 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 $1,522,500.

SOUTH MELBOURNE ranks 527th on the list of best yielding suburbs for rental properties in VIC, posting a 2.12% return.

KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $1,522,500 $595,000
GROWTH REPORT
Median Quarterly 0.16% 1.71%
Median 12 month 10.33% 1.71%
Median 3 years 40.71% 4.89%
Median 5 years 65.04% 15.53%
10 years average annual 8.28% 2.5%
Weekly media advert. rent $620 $530
Time on Market 41.0 days 80.8 days
Gross Rental Yield Percent 2.12% 4.63%
demographics (median values)
Total Population
8787
Weekly Household Income
1164
Household Size
2.00
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South Melbourne, VIC
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