If you compare the increase in value of investment property in Kingsville, 3012 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 13.67%.
While Kingsville,3012 ranked number 60th in VIC for increase in median house value (annualised) increase, it is ranked 142th over the last 5 years.
Vendor discounting in Kingsville is giving property investors an average Vendor Discount of around -6.23%. This puts suburb at number 234th in VIC when ranking the most discounted suburbs.
Renters in Suburb are facing rents around $5460 per annum or $455 every week.
Property investors who have had real estate in Kingsville, 3012 should be relatively pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 9.12%
Kingsville,3012 has offered an average of 9.12% return per annum in house price rises to property investors over the last three years.
Property buyers and investors in Kingsville 3012 should be seeing an average reduction in asking price of around -3.58% . This means that Kingsville is holding prices well when compared to other suburbs in VIC.
Using the current median advertised rental of $300 and the average annual increase in value of a median property of 6.40%, investors should hope to achieve an overall return of 4.27%
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.