This property is Off Market
With an average age of 31, households expect an average monthly mortgage payment of $1,612 or a weekly rent payment of $376. The average family earns a weekly income of $2,227 with a typical household size of 1.6 and a 92.2% employment rate.
Consistent high demand relative to supply is a key feature in South Melbourne driving regular price increases. Recent rapid price increases however may constrain future growth by limiting demand. High average incomes in South Melbourne ensure a focus on quality with a commensurate high entry price under constant demand. Competition for available quality housing is intense with multiple offers likely to be made in excess of asking prices. The high percentage of professional people in South Melbourne classifies the area as "gentrified". This implies high demand for quality housing, generally of larger than average size. Price growth is ensured even where the state affordability index is negatively impacting other areas. High density population in South Melbourne requires consistent turnover in housing ensuring constant demand. Housing styles may be a mix of low, medium, and high density, providing choice for well-financed buyers and value growth over time. Higher than average industry presence in the wider area offering local employment yet with not a large negative impact on local amenity, provides good demand and price growth.
(Country of Birth not stated 2%)
South Melbourne a good, bad, or just average location in which to invest in property? Should you be buying, or selling, property right now? Our Investability scores provide comparative insights into the investment potential for every suburb across Australia.
Investability - Housing Demand
Victoria State average 44 / 100
Income
82 / 100
52 / 100
Industry
37 / 100
17 / 100
Population
48 / 100
32 / 100
House Prices
85 / 100
70 / 100
Jobs
50 / 100
34 / 100
Incidents Trend State Average
South Melbourne Primary School
South Melbourne, VIC, 3205 State Prep-6
Galilee Regional Catholic Primary School
South Melbourne, VIC, 3205 Independent Prep-6
Hester Hornbrook Academy
South Melbourne, VIC, 3205 Independent 10-12
MacRobertson Girls High School
Melbourne, VIC, 3004 State 9-12
Melbourne Girls Grammar
South Yarra, VIC, 3141 Independent Prep-12
South Yarra Primary School
South Yarra, VIC, 3141 State Prep-6
Christ Church Grammar School
South Yarra, VIC, 3141 Independent Prep-6
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134 Acme Avenue Street, Town, State
Description - Details the application. Type and other information pertaining to the development application and more...
Authority Reference: UX0909823-GOV Website
The Residz risks assessments are composed from data attributes which are generally accepted to indicate higher or lower risk presence likelihood for that condition for any address or locality. They do not however determine the exact presence of that risk for any specific property. The Residz Data provided in this publication is of a general nature and should not be construed as specific advice or relied upon in lieu of appropriate professional advice. While Residz uses commercially reasonable efforts to ensure the Residz Data is current, Residz does not warrant the accuracy, currency or completeness of the Residz Data and to the full extent permitted by law excludes liability for any loss or damage howsoever arising (including through negligence) in connection with the Residz Data. Historical prices and trends are not a guarantee of future prices and trends.
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