With a capital gain of 10.06% for the last 12 months, Kingsville, 3012 has performed for property investments than its average annual 8.65% property growth over the last 5 years.
Taking the average capital gain, or increase in median house value, Kingsville,3012 has racked up an average of 10.06% over the period. This ranks it number 1009th in the whole country for real estate investors looking at median house price increases.
Vendor discounting in Kingsville is giving property investors an average Vendor Discount of around -9.91%. This puts suburb at number 52th in VIC when ranking the most discounted suburbs.
Kingsville, 3012’s gross rental yield is 2.85%
Kingsville is an average performer in VIC when comparing median price capital growth over the last year. Kingsville gave property investors a average capital gain figure when compared to the rest of the state, with 5.15%.
When looking at the potential capital gains offered to property investors over the last 3 years, Kingsville comes in at number 229th in VIC.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Kingsville, 3012. Typically our figures indicate that -4.81% is being offered, which puts this VIC suburb at 846th most discounted overall in Australia.
Property investors should expect to get $295 weekly from the median priced house in this suburb.
What Kingsville’s units have going for them is affordability. At just 10km east of the CBD, with good road links and a train station just a short walk away, Kingsville’s median unit price is something of a steal.Full summary
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What Kingsville’s units have going for them is affordability. At just 10km east of the CBD, with good road links and a train station just a short walk away, Kingsville’s median unit price is something of a steal.
It may not be the most fashionable of Melbourne’s inner- to middle-ring suburbs, but its one to watch as the ripple effect takes hold.
“I love Kingsville,” says Australian Property Buyers managing director Karin Mackay. “It doesn’t have the cafe latte set that Yarraville and Seddon villages have, but they’re both only about a 15-minute walk away.”
Buyer Solutions director Janet Spencer adds that the Kingsville market has really been driven by the excellent shopping in Yarraville’s Anderson Street, and that the appeal of this shopping district has radiated out towards neighbouring suburbs.
When it comes to what to buy, Mackay points out that the area has traditionally been a good pick for investors looking for apartments from the 60s and 70s to makeover and create some added value.
“But there’s also a new block of around 11 apartments that’s just being completed,” she adds. “And they’re the first new apartments that we’ve seen here for several years.”
Spencer adds that while around 10 years ago the trend was for investors to buy and renovate period homes, it’s Kingsville’s unit market that draws in the investor crowd nowadays.
“Units are the affordable option now. I’d recommend buying two-bedroom units with off-street parking and a laundry.”
Looking at its rental market statistics, renters make up about a third of the suburb’s population.