5.8% Noble Park villa rental yield offering Melbourne's cheapest property: REIV

5.8% Noble Park villa rental yield offering Melbourne's cheapest property: REIV
5.8% Noble Park villa rental yield offering Melbourne's cheapest property: REIV

Melbourne's weekend auction clearance rate of 71% was up on the 68% of the prior weekend and 66% the same weekend last year.

There were 1243 auctions reported to the REIV this weekend. 

The cheapest apartment (above) was $188,000 at Noble Park with a one bedroom villa that was offered as an investment.

It was leased to July 2016 with monthly rent of $210 per week, reflecting 5.8% gross rental yield. It was last advertised for rent at $200 a week in 2012, and at $120 a week in 2005.

Ray White's marketing sought $150,000 plus buyers.

The cheapest house sold for $212,000 at Melton West having last sold in 1990 at $100,000.

There were about 11,800 residential sales in the month of October - up eight per cent from the same time last year.

TOP 5 HOUSES

1. 520 Barkers Road, Hawthorn East $4,361,000

2. 38 Richmond Terrace, Richmond $4,320,000

3. 23 Widford Street, Hawthorn East $4.300,000

4. 7 Maysbury Avenue, Brighton $3,750,000

5. 16 Tollington Avenue, Malvern East $3,565,000

 

TOP 5 BARGAIN HOUSES

1. 3 Carnarvon Place, Melton West $212,000

2. 22 Washington Street, St Albans $330,000

3. 222 Eastbourne Road, Rosebud $330,000

4. 26 Jade Crescent, Wyndham Vale $331,000

5. 2 Tawny Court, TRUGANINA $335,000

 

TOP 5 APARTMENTS

1. 2A Collins Street, Ormond $1,825,000

2. 10/1 Monaro Road, Kooyong $1,820,000

3. 5A Edgar Street, Brighton,$1,770,000

4. 62A Bulleen Road, BALWYN NORTH $1,550,000

5. 2/2 Hilda Street, Balwyn $1,450,000

 

TOP 5 BARGAIN APARTMENTS

1. 8/85 Buckley Street, Noble Park $188,000

2. 3/88 Corrigan Road, Noble Park $233,000

3. 4/552 Moreland Road, Brunswick West $250,000

4. 3/1152 Heatherton Road, Noble Park $264,000

5. 14/2 Berry Street, Essendon North $285,000

Source REIV

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

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Melbourne Clearance Rate

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