HIGHEST PRICE GROWTH SUBURBS FOR INVESTORS - VICTORIA AND MELBOURNE 12 months to June 2021
SUBURB |
REGION |
TYPE |
MEDIAN |
% GROWTH |
Melbourne ( highest price growth for homes under $ 850,000 ) |
Bulleen |
Eastern Middle Melbourne |
Unit |
$ 800,000 |
37.2 % |
Hadfield |
Moreland City |
Unit |
$ 595,000 |
21.4 % |
Tootgarook |
Mornington Peninsula Shire |
House |
$ 728,000 |
21.3 % |
Healesville |
Yarra Ranges Shire Part A |
House |
$ 721,500 |
21.3 % |
Preston |
Northern Middle Melbourne |
Unit |
$ 585,000 |
19.8 % |
Regional VIC ( highest price growth for homes under $ 500,000 ) |
Wangaratta |
West Ovens-Murray |
Unit |
$ 255,500 |
34.5 % |
Mirboo North |
South Gippsland |
House |
$ 415,000 |
32.8 % |
Rutherglen |
West Ovens-Murray |
House |
$ 362,500 |
31.8 % |
Yarrawonga |
North Goulburn |
House |
$ 490,000 |
29.8 % |
Warracknabeal |
North Wimmera |
House |
$ 155,000 |
29.2 % |
Source : Corelogic , Ray White
While investors typically don ’ t target high yields , it can be useful to look at high yielding locations as they tend to be at cheaper price points . More negatively , they often don ’ t achieve price growth that tracks the average .
In Melbourne and regional Victoria , the highest yielding suburbs tend to be in some of the lowest priced parts of the state . What is particularly interesting in this analysis is how high yielding university suburbs such as Carlton and Bundoora have become . Although this is likely due to big price declines we saw last year . Good news is that Carlton price declines in particular have reversed .
HIGHEST YIELDING SUBURBS WITH POSITIVE PRICE GROWTH FOR INVESTORS - VICTORIA AND MELBOURNE 12 months to June 2021
SUBURB REGION TYPE YIELD MEDIAN % GROWTH Melbourne ( highest yields for homes under $ 850,000 ) Carlton Inner Melbourne Unit 4.8 % $ 398,888 17.3 % Bundoora Northern Middle Melbourne Unit 4.6 % $ 415,000 5.2 % Cranbourne South Eastern Outer Melbourne Unit 4.5 % $ 401,000 8.4 % Craigieburn Hume City Unit 4.5 % $ 405,000 8.7 % Sydenham Western Melbourne Unit 4.5 % $ 430,000 2.4 % Regional VIC ( highest price growth for homes under $ 500,000 ) Warracknabeal North Wimmera House 7.9 % $ 155,000 29.2 % Nhill North Wimmera House 7.6 % $ 165,000 37.5 % Merbein Mildura Rural City Part A House 6.4 % $ 225,000 10.0 %
Source : Corelogic , Ray White
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