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South Melbourne, VIC 3205

Home » VIC Real Estate Data » Port Phillip City, VIC » South Melbourne, VIC 3205

If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for South Melbourne, VIC 3205 located in Melbourne to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

2BR

3BR

4BR

5BR

Rent 

2BR

3BR

4BR

5BR

Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

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Yield 

1BR

2BR

3BR

Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “South Melbourne, VIC 3205”

  1. The total adult population (15 years or older) of South Melbourne 3205 VIC is 10,211, with a median age of 39. Of those, 32.94% are married, 13.74% are divorced or separated, 49.31% are single and 4.02% are widowed.

    The average household size is 1.9 people per dwelling, and the median household monthly income is estimated to be $12,292. The median monthly mortgage repayment for households in this suburb is $2,200 which is 17.90% of their earnings.

    Source: ABS Census Data (2021)

  2. Situated in the heart of Victoria, SOUTH MELBOURNE 3205 encloses an estimated 10,148 households. As we approach the end of Q3 2023, we delve into the property market statistics to shed light on potential investment opportunities and market trends.

    Currently, the typical house price dances around $1,696,728, with a median weekly rent of $887. This results in an indicative yield of approximately 2.7%, which falls slightly below the ideal yield of 3% preferred by cashflow-centred property investors. Therefore, it is pertinent for potential investors to be conscious of this drawback despite its strong appeal reflected in other indicators.

    Drawing on the socio-economic conditions, the IRSAD score sits at 1093 out of a possible 1217, an optimistic indication of the area’s socio-economic status. However, the renter to owner ratio in the SOUTH MELBOURNE property market is at 55%, higher than the optimal range of less than 30%, signaling a dominated rental market and potentially tight competition for property investors.

    Moreover, the units to houses ratio in SOUTH MELBOURNE exceeds the suggested range by pushing the 61% marker. This ratio reflects an abundance of units, indicating an oversaturated market; thus, translating into a more competitive rental landscape for landlords seeking tenants.

    Furthermore, the affordability index raises some concern as it stands at 54 years, substantially higher than the standard mortgage length of 30 years. This could whisper to potential investors that the suburb exhibits decreased affordability.

    On the supply side, the area showcases a promising profile. With a low stock on market Percentage of 0.2% and an inventory level sitting just below one month at 0.92, it suggests a lean level of unsold properties on the market and quick absorption of new listings. Transmitting favourable signals for the market, the building approvals Ratio for houses is a mere 0.13%, insinuating a limited supply of new dwelling stock.

    Countering the above, demand metrics relay positive intel with the average days on market for houses residing at a brisk 23 days, directing towards a high demand pocket. The combined vacancy rate for houses and units sits comfortable at 1.49%, indicating a healthy level of demand. Lastly, the buy search index rests at the state average of 5, suggesting a balanced demand for purchasing properties.

    In conclusion, despite its shortcomings, South Melbourne exhibits a balanced property market with low supply and reasonable demand. Investors are as always advised to continuously monitor market dynamics and keep in mind that an otherwise perfect market doesn’t exist – there will always be a margin for risk and factors in unfavourable range. Thus, in-depth research, vigilance, and well-informed decisions remain crucial in ensuring fruitful investments.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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