South Melbourne is on target to be one of the fastest growing cities in the country!
The median sales price for units in South Melbourne, VIC in the last year was $575,000 based on 172 home sales. Compared to the same period five years ago, the median unit sales price for units increased 10.4% which equates to a compound annual growth rate of 2.0%.
- South Melbourne is a thriving suburb with a median house price of $1.41 Million and median unit price of $581,000.
- The median rent is $670/week for houses and $510/week for units.
- The main dwelling type is medium to high density.
The rental yield for units in South Melbourne, VIC was 4.6% based on 826 property rentals and 172 property sales over the preceding 12 months.
The numbers certainly speak for themselves! If you want to learn how you can tap into the potential that is South Melbourne go ahead and pick up the phone and give us a call or fill out a contact form here – we would love to show you some wonderful options you never would have thought possible.