APD Research Memo
St Kilda
Improving · High confidence · Strong evidence · 30 August 2026
Conditions read as improving on median rent at $1,165 against a $1,010 historical average; median house value at $1,633,554 against a $1,557,738 historical average; price-to-rent multiple at 27 against a 30 historical average; sales volume at 44 against a 36 historical average.
APD View — St Kilda
St Kilda: conditions improving
Current data indicates conditions in St Kilda are improving. 14 indicators across 5 analytical dimensions inform this reading, with 79% pointing the same way.
Direction
Improving
Confidence
High
Evidence strength
Strong
Direction describes where underlying conditions are moving. It is not a rating, a recommendation or a signal to transact — a market can be improving while remaining expensive, low-yielding or supply-exposed.
Why this confidence — Based on 14 indicators, 60 months of history, 79% of indicators pointing the same way, latest data 29 days old.
Evidence basis — Based on 14 indicators, 1 independent source, 60 months of history. Latest data 29 days old.
What changed
| Indicator | Now | 1 month | 1 quarter |
|---|---|---|---|
| 12-month price growth | 1.9% | 2.4% | 1.6% |
| Vacancy rate | 1.9% | 2.0% | 2.1% |
| Advertised listings | 97.68 | 101.84 | 106.45 |
| Rental growth | 6.3% | 6.1% | 6.0% |
| Auction clearance | 64.1% | 64.9% | 66.8% |
| Days on market | 38 days | 39 days | 39 days |
| Building approvals | 24.42 | 25.01 | 25.14 |
| Sales volume | 44.4 | 44.38 | 43.51 |
What supports this view
- Median rent — $1,165 against a historical average of $1,010. Advertised rents sit above the historical average for this market. Historical percentile: 98.
- Median house value — $1,633,554 against a historical average of $1,557,738. House values sit above the historical average for this market. Historical percentile: 98.
- Price-to-rent multiple — 26.96 against a historical average of 29.81. Prices are low relative to rents compared with the historical average. Historical percentile: 0.
- Sales volume — 44.4 against a historical average of 35.9. Transaction volumes are running above the historical average. Historical percentile: 95.
- Gross yield — 3.7% against a historical average of 3.5%. Gross yields sit above the historical average for this market. Historical percentile: 88.
- Vendor discounting — -2.3% against a historical average of -2.1%. Sellers are accepting smaller reductions than normal. Historical percentile: 20.
What works against it
- Days on market argues the other way — Days on market reads 38 days against a 32 days historical average (82th percentile), which works against the current reading.
- Building approvals argues the other way — Building approvals reads 24 against a 21 historical average (70th percentile), which works against the current reading.
- Days on market — 38 days. Properties are taking longer to sell than the historical norm. Historical percentile: 82.
- Building approvals — 24.42. Dwelling approvals are running above the historical average, pointing to more future supply. Historical percentile: 70.
- Population growth — 1.0%. Population growth is running above the longer-run average. Historical percentile: 38.
This memo is research, not personal advice, and does not take your circumstances into account. It describes the direction of underlying conditions on the evidence available and states what would change that conclusion. Methodology · Markets we're watching