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If you’re looking to invest in property, there are several things you’ll need to take into account: the cost, the rental yield, and the likelihood that your property continues to increase in value over time.

Melbourne property is highly sought after – but what kind of return on your investment can you expect from purchasing there? And what were the best suburbs to invest in Melbourne in 2019?

Using the latest data from realestate.com.au, we’ve compiled a list of this year’s 10 best suburbs to invest in Melbourne, based on the yearly median sale price, the year-on-year change in the median sale price, and the average rental yield for properties in these suburbs.

1: Flemington, Average Rental Yield of 3.09%

Getting the top spot for Melbourne’s best suburb to invest in is Flemington, located 4 kilometres north-west of Melbourne city centre. The median sale price for the past 12 months is $990.000, and the year-on-year change in the median sale price is a notable 6.14%.

On top of that, the average rental yield is 3.09%. While not the highest rental yield in the top ten, Flemington tops the list in terms of change in median sale price.

Flemington, located 4 kilometres north-west of Melbourne city centre, is Melbourne’s top investment suburb. Picture: realestate.com.au

2: Cairnlea, Average Rental Yield of 3.56%

Cairnlea is Melbourne’s next best suburb to invest, with a median sale price of $740,000.00. 17 kilometres north-west of the CBD, Cairnlea’s year-on-year change in the median sale price is 1.54%, slightly lower than that of Flemington.

That being said, the yearly rental yield is a little higher: 3.56%.

Leafy Cairnlea is located north-west of Melbourne’s CBD. Picture: realestate.com.au

3: North Melbourne, Average Rental Yield of 3.05%

Following Cairnlea is the inner-city suburb of North Melbourne.

North Melbourne costs a pretty penny to invest in, with a median sale price of $1,166,000. The year-on-year change in sale price sits at 1.39%, while the rental yield is 3.05%.

North Melbourne isn’t the cheapest market to enter, in Melbourne. Picture: realestate.com.au

4: Derrimut, Average Rental Yield of 3.78%

17 kilometres west of the CBD is Derrimut, the fourth-best suburb to invest in Melbourne. With a median sale price of $615,000, Derrimut is the least expensive suburb to invest in our list.

Derrimut has a year-on-year change in the median sale price of 0.00%, and a relatively high rental yield for Melbourne suburbs, of 3.78%.

Derrimut is a fantastic place to invest. Picture: realestate.com.au

5: Hadfield, Average Rental Yield of 3.19%

Hadfield comes in next, 10.5 kilometres north of the CBD. Hadfield has a median yearly sale price of $717,250, with a negative year-on-year change of -0.21%. The rental yield is a positive 3.19%.

Hadfield is number 5 on the list of top investment suburbs. Picture: realestate.com.au

6: Balaclava, Average Rental Yield of 3.23%

Situated much closer to the city is Balaclava, just 7 kilometres south of the city and a short 9-minute drive to the beach.

Balaclava has a median sale price of $1,186,000 and a change in the median sale price of -0.34%. The rental yield sits at 3.23%.

Balaclava is close to Melbourne’s CBD and beach. Picture: realestate.com.au

7: Ascot Vale, Average Rental Yield of 2.94%

Next is Ascot Vale, a short 6 kilometres north-west of the city. Ascot Vale has a median sale price of $1,140,000 and a yearly change in the sale price of -1.30%.

The rental yield is the second-lowest of our list, at 2.94%.

Ascot Vale is just 6km from Melbourne’s CBD. Picture: realestate.com.au

8: Newport, Average Rental Yield of 3.09%

Newport comes in eighth, situated on the mouth of the Yarra River and just 7 kilometres south-west of the city.

It has a costly median sale price of $1,036,000 and a year-on-year change in the sale price of -1.78%. The rental yield here is slightly higher than Ascot Vale, at 3.09%.

Newport is close to Melbourne’s Yarra River. Picture: realestate.com.au

9: Malvern East, Average Rental Yield of 2.50%

Coming in ninth is the south-eastern suburb of Malvern East – with the lowest rental yield of 2.50%.

The median sale price here is $1,754,999, while the year-on-year change in the median sale price is -1.80%.

Malvern East is located in Melbourne’s southeastern region. Picture: realestate.com.au

10: Altona Meadows, Average Rental Yield of 3.30%

And lastly, Altona Meadows is the tenth best suburb to invest in Melbourne. The yearly median sale price here is $625,000, with a year-on-year change of -2.34%. The rental yield comes in at a promising 3.30%.

Altona Meadows rounds out the list of top ten investment suburbs in Melbourne for 2019. Picture: realestate.com.au

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The luxury Guanaba estate known as Bluestone.

A luxury acreage in the Gold Coast Hinterland has sold for $3.85 million to the first buyer who laid eyes on it.

The 4.32ha prestige estate in Guanaba, 30 minutes northwest of Surfers Paradise, was on the market for just five days with an asking price of $3.5 million.

The private rural holding has a long list of features.

Kollosche’s Kara Evatt, who led the marketing campaign with Eddie Wardale, said a local family fell in the love with the estate after one private inspection.

“The buyers were local and it was definitely an emotional purchase for them,” she said.

“They fell in love with the property from the first point of entry. They’re really looking forward to raising their family out there on acreage.”

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An outdoor pizza oven is made for a meal under the stars.

The property was viewed more than 8000 times online last week, with multiple offers made including an interstate party who inspected the property via FaceTime.

“We were inundated with inquiry from Brisbane, interstate and locals,” Ms Evatt said.

“There is nothing comparable to this property in the area.”

A large garage and carparking are appealing to prestige buyers.

The heli pad was a drawcard for many who missed out on the property.

Known as Bluestone, the Guanaba Creek Road estate has a six-bedroom residence and a long list of luxury features including an airconditioned gym, helicopter pad and hanger, heated pool, sauna and a six-car showroom-style garage.

“The garage and carparking were a big drawcard along with the tennis court and we have leftover buyers looking for a property with a heli pad,” Ms Evatt said.

“Based on the inquiry we received there are a lot of people looking for acreage properties.”

Grow your own organic vegetables in the garden

The post Luxury acreage snapped up for $3.85m after one inspection appeared first on realestate.com.au.

COVID-19 restrictions have given many of us a reason to reconsider our lifestyles, making the country or coastal life look a lot more appealing than residing in the city.

These dreamy rentals currently on the market could be the change of scenery cooped-up tenants need – all within driving distance of major cities.

1. 3/37 Hospital Street, Daylesford, VIC

This one-bedder even features a spa overlooking the wilderness. Picture: realestate.com.au/rent

Daylesford, approximately 90-minutes’ drive from Melbourne CBD, offers a country town vibe and some beautiful heritage properties.

This one-bedroom home at 3/37 Hospital Street is up for grabs for $460 per week.

Previously a short-term rental, it’s now seeking longer-term residents.

The home consists of two levels: the ground floor features a modern kitchen and living area, while upstairs is the bedroom.

There’s also a luxurious spa overlooking Doctor’s Gully.

Daylesford is currently under stage three restrictions, which means you can see this property by private appointment if you already live in the area. Otherwise, you’ll need to rely on a virtual inspection.

2. 702 Mount Macedon Road, Mount Macedon, VIC

This stunning home comes fully furnished. Picture: realestate.com.au/rent

Swap your inner-city Melbourne apartment for this fully furnished country charmer at 702 Mount Macedon Road.

Imagine snuggling up by a roaring fire during the cold nights and enjoying bush walks during the days. Mount Macedon is also just a 50-minute drive from Melbourne’s CBD. For $630 per week, tenants can enjoy the country life in style in this home.

Mount Macedon is under stage three restrictions, which means only locals can see this home by private appointment. Anyone in metropolitan Melbourne will need to use virtual inspection tools.

3. 4a Delecta Avenue, Avalon Beach, NSW

You have the ocean as your backyard at this dream rental. Picture: realestate.com.au/rent

Dubbed ‘Villa Delecta’, this two-bedroom cottage at 4a Delecta Avenue has direct access to Clareville Beach which will be the prime position come summer.

It also comes fully furnished, decked out with beautiful coastal furniture, internet, water and electricity also included in the $930-per-week price.

Avalon Beach is just a 50-minute drive from Sydney’s CBD and lucky Sydneysiders will be able to visit this property in person before applying.

4. 874 Coolamon Scenic Drive, Coorabell, NSW

Imagine waking up to these views every day. Picture: realestate.com.au/rent

The stunning rental at 874 Coolamon Scenic Drive is seeking new tenants for $1,500 per week.

Boasting three bedrooms, two bathrooms and some epic views of the Byron Hinterland, it’s likely this place will be snapped up quickly.

Tenants have the luxury of a wood fireplace, a garage and studio and a whole acre of land to call home.

Coorabell is a two-hour drive from Brisbane, a one-and-a-half-hour drive from the Gold Coast, or a 10-minute drive to Byron Bay.

Those living in New South Wales can attend one of the home’s inspections, however, Queenslanders are being advised by the state not to travel to NSW at present – so interested parties will have to inspect online.

The post 4 out-of-town rentals we wish we lived in appeared first on realestate.com.au.

Jodie J Hill has lived in more than 20 homes.

Jodie J Hill is a comedian and a real estate agent: the director of sheSELLS Real Estate Game Changers and sheLORDS Boutique Property Management.

Where do you live?

In Fairfield, a friendly and active community of people who love their neighbours, multicultural cuisine, comedy and parklands. I’m currently leasing a great old-school townhouse that has a big courtyard for my loyal dog, Buster, and two handsome young sons, Tasman and George.

What do you love most about your home?

The location. My sons walk and ride to school and we always have friends dropping in.

One thing you’d change?

Adding another room. It’s got to the stage where the kids don’t want to share a room anymore.

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How many homes have you ever lived in?

From childhood homes to share houses to warehouses and shopfronts, I would say more than 20. I’ve lived in homes in Adelaide, Castlemaine, Point Lonsdale, Melbourne and Vancouver, Canada, and I’ve loved them all. My father, Crawford Hill, ran his own real estate agency, so I grew up thinking everyone bought and sold every two years.

The most memorable?

227 Brougham Place, North Adelaide. My father snapped up this beautiful heritage terrace at an auction without telling my mother. She absolutely cracked it. But once she saw the views of Adelaide, he was forgiven. I did my very first comedy routine on the balcony for my 21st-birthday guests. It was a magic time.

Your first foot on the property ladder?

A house at 43 Campbell St, Castlemaine. It was another magical time in my life. This was an amazing heritage home with a giant backyard and wonderful neighbours. I regret selling it.

The highlights of your property journey?

Not buying one particular house at auction. Sometimes missing out on a property is a relief. It would have been a money pit.

Home is where the heart is.

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Best property advice you’ve heard?

My father always said to “buy beneath your means” so your mortgage does not become your noose.

Tips for homebuyers?

Use a buyers’ advocate to manage your conflicting budgetary and emotional needs and get you over the line, saving you time and money.

Future property plans?

To buy my dream property: a converted shopfront.

The post Jodie J Hill: Home Truths appeared first on realestate.com.au.

No. 84 Palace St at Petersham has set a new suburb record of $3.3 million.

A buzzing auction has stunned onlookers after a sprawling inner west property not only broke the suburb record, but also shattered the reserve.

The Petersham property at 84 Palace St sold to a local inner west family for a whopping $650,000 above reserve after a tussle broke out between three of the eight registered bidders.

This saw the property sell for $3.3 million, in what is the highest sale ever recorded for a residential house in Petersham.

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The home had a modern extension.

CoreLogic reveals this is around $200,000 more than next highest sale in Petersham — achieved in 2015 by 23-25 Shaw St.

The Agency — Inner West’s Shad Hassen said the result was incredible, with a bidding frenzy following the opening bid of $2.8 million.

“The opening bid was already $150,000 over the reserve, and this knocked out five bidders who were not expecting it go that high,” he said.

The four-bedroom house with a swimming pool and a double garage was popular with lower north shore, eastern suburbs and inner west buyers who have remained confident during the pandemic.

There is also an upstairs office.

Character charm can still be found.

“There are a lot of buyers at the moment wanting quality homes, and those with stable income sense now is the time to buy with interest rates so low,” Mr Hassen said.

“This home ticked all the boxes with it occupying a block for Petersham, and that it was move in ready with off-street parking.”

The Petersham property was one of 632 auctions to take place across the Harbour City on a windy and cold weekend. CoreLogic reports a clearance rate of 71.9 per cent was achieved from 495 properties selling under the hammer.

The opening bid of $2.8 million was $150,000 above reserve.

This is only slightly less than the 78.1 per cent achieved this time last year.

The inner west had the best clearance rate of 89.5 per cent across Sydney, with 38 out of 47 properties going under the hammer selling.

With a quintessential Victorian era facade, the Palace St property mixes character charm with modern features on the inside. It had an early 2000s extension, swimming pool and a separate studio that could be used as a home office or for guest accommodation.

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The post Petersham scores new suburb record after sprawling property sells $650k above reserve appeared first on realestate.com.au.

The Wallaroo Plain beach shack at 377 Myponie Point Drive is on the market. Pic: realestate.com.au

Gone are the days when old beach shacks often used as holiday homes or weekenders lined South Australia’s coastline.

Many have been demolished over the years to make way for more modern mansions, but one at Wallaroo Plain has stood the test of time.

The two bedroom residence at 377 Myponie Point Drive is offering prospective buyers a taste of a much simpler life – think stopping to admire sunsets every evening and fishing for dinner.

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The shack’s view of the ocean is hard to beat. Pic: realestate.com.au

There is plenty of space to sit on the deck and admire it too! Pic: realestate.com.au

The beach theme is upheld inside. Pic: realestate.com.au

Harris Copper Coast agent Tim Hosking, who is selling the shack with Craig Costello, said it was one of few left in the area.

“They’re getting more rare,” he said,

“There’s some that have been (kept) in the same family for generations because they’re so hard to come by.”

Mr Hosking said the vendors were reluctantly selling the 734sqm property, which they have called home for the past six months.

He said they often fished off the rocks flanking the bay directly in front of the house and gathered around a camp fire to cook their catch.

“The second time I met up with them, they had a fire on the sand directly in front of the shack,” he said.

“It almost feels like you’ve got a live painting in front of you too that changes morning and night.”

There are two bedrooms inside the shack. Pic: realestate.com.au

And there is one bathroom. Pic: realestate.com.au

It is in a private spot as well, with primarily vacant land and sea surrounding it.

“The land north and south of it is Crown Land so you’re not going to have neighbours nearby,” Mr Hosking said.

While it feels like it’s a world away from civilisation, Mr Hosking said the property was just a short drive away from Wallaroo town centre.

The shack, which property records show was built in 1989, is listed with a price guide of $395,000 to $425,000.

It has electricity, rainwater to the house, an alarm system, NBN and a new antenna.

Mr Hosking said interest in it was coming from prospective buyers keen to lap up the laid-back lifestyle on offer.

“Interest has started to increase, especially as the weather is starting to warm up,” he said.

“People are really wanting to experience it.”

The shack can be completely closed up when no one is home. Pic: realestate.com.au

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The resort-style home at 23 Wunulla Road, Point Piper, has a $12m price guide.

One of the first things the owners of this magnificent Point Piper home did when they bought it seven years ago was build the cabana beside the wet-edge pool.

It was a smart move. Stepping onto the cabana’s rooftop terrace — accessed via a bridge from the main house, with owner Gail Kohan and Double Bay agent Paul Rich, I was blown away by the extraordinary northerly harbour view over the marina of the neighbouring Royal Motor Yacht Club.

“We’ve had quite a few parties out here — especially on New Year’s Eve,” said Gail, who with her husband Professor Lawrence Kohan, one of Sydney’s leading orthopaedic surgeons, purchased the home in 2013 through Rich.

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The house is at 23 Wunulla Road, Point Piper, right next door to the yacht club.

The cabana is fully self-contained, with a kitchen and ensuite.

The five-bedroom, four-bathroom home with double garage at 23 Wunulla Road has now hit the market with Rich with a $12m guide in an expressions of interest campaign closing September 18.

If you were the purchaser, why wouldn’t you have parties here all summer long in this harbourside paradise?

Wake up to glorious harbour views.

Professor Kohan loves to have a sauna followed by a swim in the wet-edge pool, even in winter.

The cabana itself, below, is fully self-contained with a kitchen and ensuite. There’s even a sauna. Professor Kohan apparently loves a sauna followed by a swim — even in winter.

They’d called on the help of architect Philip Perrie for this addition, and also a major refurbishment of the lower part of the 1910-era house.

The biggest change was the removal of a wall in the kitchen, which has created a huge cooking and food preparation area, with a marble island bench, with top-notch Smeg and Bosch appliances including an in-built coffee machine. And of course amazing harbour views.

Gail’s favourite spot is sitting at the marble island kitchen bench in the huge kitchen, enjoying the harbour view.

The large open-plan living area opens to the terrace.

Gail says this is her favourite part of the house. “I just love sitting at this bench — it’s like living in a resort. Just beautiful!” she said.

Still, with the three children having moved out and now living overseas, the couple are contemplating a move to a maintenance-free penthouse.

And the lucky new owners-to-be stand to benefit. The open-plan living area opening to the terrace is perfect for a family. And the four bedrooms upstairs either have their own ensuite or a bathroom close by. Three have a balcony with harbour view and steps lead down the side of the property to the waterfront.

Paul Rich, of Richs Real Estate, says: “With level access, stunning harbour views and resort-style amenities, this spacious family residence is simply outstanding.”

The post Top surgeon’s $12m Point Piper house of fun has wet-edge pool, cabana and sauna appeared first on realestate.com.au.

Share house residents are among those accelerating plans to buy property despite turmoil caused by COVID-19.

Victorians living in share houses are believed to be bringing forward their plans to buy their own property after months spent working from home.

The claim follows a June property aspirations and buyer confidence survey that showed almost three quarters of the state were worried job security issues caused by COVID-19 would affect their ability to buy a home — before Melbourne started a stage four lockdown.

Despite the concerns, the survey found one in four people have accelerated their real estate dreams despite the virus’ economic impacts, according to the report compiled for mortgage broker Aussie.

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Chief customer officer David Smith said he believed part of this was share house residents.

“There are people in shared houses who were thinking about buying in a year or so, but have shared a house with two or three others where everyone is working from home, and have brought forward their plans,” Mr Smith said.

Hocking Stuart Werribee auctioneer Samantha McCarthy said she too had seen the trend.

A week before Melbourne’s stage-four lockdown came into place Ms McCarthy sold 19 Rutman Close, Werribee to a first-home buyer who had been living with friends in nearby Deer Park.

19 Rutman Close, Werribee sold to a first-home buyer who had been living with friends just before the city went into stage four lockdown.

“We will see a lot more people come out looking at property after this lockdown,” Ms McCarthy said.

“For many, they are seeing 20 things about their home they don’t like. Or they are over living with a friend.”

She said modern homes and those that had been renovated would be high on shopping lists, with buyer uncertainty over resolving renovation projects potentially set to linger after the current stage four lockdown put many on hold. Homes with a second living area would also likely be more in demand.

In addition to 72 per cent of buyers being worried job security would affect their home aspirations, the Aussie survey also showed 60 per cent of Victorians had changed their real estate plans in response to COVID-19 by mid June.

Mr Smith said these figures were likely to have worsened as the stage four lockdown had subsequently hit confidence further.

However, with Melbourne’s COVID-19 case numbers now falling, he said the only way to go from here was up.

“Three in four might well be concerned, but they are expecting things to turn around at a reasonable pace,” Mr Smith said.

“(And) anecdotally, from our broker conversations, there aren’t discounts — they are seeing purchasers go after properties and seeing sellers holding their ground on prices in Melbourne.”

The three-bedroom Rutman Close house comes with plenty of space to spread out in.

The survey also showed about 42 per cent of Victorians wanted to make a property move today, but were uncertain of new rules around finance with many lenders now asking pointed questions about employment and JobKeeper payments.

“For those who are still employed, which is still the majority of people, the lending criteria are confusing but not insurmountable,” Mr Smith said.

Mr Smith said Aussie franchises in Melbourne’s west were still seeing high demand from prospective buyers, accounting for half of the activity with one broker — alongside refinancing.

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The post COVID-19 housemates plan to buy a way out of share houses appeared first on realestate.com.au.

Artist Michael Johnson has sold in Paddington. Photo Mark Cranitch.

The internationally recognised abstract painter Michael Johnson and his wife ­Margot have sold their grand Paddington terrace, Cawdor.

The four-bedroom, two-bathroom terrace with nine-foot-high ceilings was listed with a $4.3 million asking price.

There has been no price reveal but prospective buyers were being advised late this week the 1880s terrace was set to fetch a little over $4 million.

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Stunning French doors in the bedroom.

Gorgeous living areas.

The home is lined with large paintings on almost every wall.

There is a bohemian feel throughout the home that harks back to the loft-living aesthetics of New York, where Johnson lived during the early 1970s.

The 162sqm property ­includes a studio where he painted the work Oceania high low that won him the 2014 Wynne Prize for the best landscape painting of Australian scenery.

The Bent St property was sold to the ­couple for $2,235,000 in 2012, and has since been extensively renovated.

You can tell this is the home of an artist.

Johnson bought the house in 2012. Source: Ken Butti.

It features include a French marble fireplace, and French doors opening into a modern kitchen and an entertainer’s deck.

Johnson and his wife have ­decided to spend more time at their country property and a Woollahra bolthole.

Paddington’s latest listing is a Stewart St home, redesigned by the late architect Ken Woolley, which has hit the market with a $4.5 million buyer’s guide.

There are four bedrooms throughout.

The three-bedroom was purchased by Woolley and his widow, Virginia in 1995 for $730,000.

BresicWhitney agent Emily ­Davidson has it listed for September 19 auction. Woolley, who died in 2015, was a leading figure in a romantic architectural movement referred to as Sydney School.

Paddington currently has 33 properties for sale, with a median terrace prices over the past year of $2,440,500. Based on five years of sales, Paddington has seen a compound growth rate of 7.9 per cent for houses.

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Anthony Watmough has bought in Fairlight. Picture: Jonathan Ng

Former Manly Sea Eagle Anthony Watmough and his wife, former model Elle Mc­Leod, have bought back into the northern beaches market.  

They have secured a four-bedroom Fairlight home for $2,050,000. Watmough, who played 278 games for the Sea Eagles, made the purchase after selling their transformed North Curl Curl home.

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Anthony and Elle Watmough with daughter Jagger. Picture: John Appleyard

It had been listed with $2.2m hopes.

Their latest purchase won’t require too much renovation work this time as it was marketed by LJ Hooker selling agents as an inspired contemporary take on a classic 1900s beach house.

The reinvented single level cottage, which delivers a ­relaxed retreat for year-round entertaining on its 250sqm block, had been listed with $2.2m hopes. It comes with an alfresco space with built-in barbecue. It last sold at $1,776,000 in 2015.

The perfect place to entertain guests.

They made the purchase after selling in North Curl Curl.

The NRL legend was in the news when his Sydney CBD restaurant Cubby’s Kitchen briefly closed earlier this month after an unknowing COVID-19 infected diner had visited the Lebanese ­restaurant.

Fairlight has 15 properties currently listed for sale, ­according to realestate.com.au.  The median house price over the last year sits at $2,323,000, and based on five years of sales, Fairlight has seen a compound growth rate of 6 per cent for houses

The post Manly Sea Eagles legend Anthony Watmough buys Fairlight home for $2.05m appeared first on realestate.com.au.