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
