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Suburb spotlight on: South Yarra
Who’s got top market share?
There’s no doubt South Yarra is a competitive marketplace. More and more, we’re seeing vendors capitalise on the rising market. In fact, Corelogic data shows that the median house price has increased from $1.15 million in 2014, to where it sits today at $1.65 million.
Let’s look at the top market share positions. Hocking Stuart and Kay and Burton share the top spot, both with 10 pre cent per cent share, followed closely by William Batters with 9 per cent. Hayden Real Estate rounds out the top three with 5 per cent market share.
The South Yarra market suits investors, with over 60 per cent of residents renting and plenty of apartments at the more affordable median price of $547,000. Corelogic data tells us the average two bedroom apartment in South Yarra will rent for $540 per week, giving savvy real estate businesses the opportunity to build a successful sales and property management operation.
The opportunity to open a business in the heart of South Yarra is with Ray White. If it’s an area of interest for you, we can help you build a competitive business. Talk to us today.