Suburb Profile Report for Kingsville VIC (3012)

Kingsville House: Median price $860,000, Annual capital growth 8.79%, Number of sales 52, Weekly median advertised rent $460

Kingsville Unit: Median price $366,000, Annual capital growth 7.92%, Number of sales 37, Weekly median advertised rent $300

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Over the last year, property investments in Kingsville, 3012 have given investors a capital gain of 14.67%. This compares very favourably with the 7.80% for VIC as a whole.

While Kingsville,3012 ranked number 50th in VIC for increase in median house value (annualised) increase, it is ranked 94th over the last 5 years.

At number 244th of VIC’s most discounted properties, Kingsville is in the bottom 40% of the state/territory when listing in order of most discounted to least.

With the median price for a house in Kingsville being $860000 and the advertised rent reaching $460 the gross rental yield for property investors calculates out to be 2.78%

Property value increases in Kingsville have tracked higher than the VIC average of 3.63% over the last 12 months.

When looking at the potential capital gains offered to property investors over the last 3 years, Kingsville comes in at number 144th in VIC.

Our latest figures would indicate that property sellers in Kingsville are currently offering property investors an average price cut of -3.96% below the asking price at the moment.

Often selling an investment property can take time, and in Kingsville the average time real estate has been on the market is 65.58 days.

Situated 7.17km from the CBD, Kingsville is one of Maribyrnong localities in the postcode 3012.

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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.Full summary

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.

Close
HOUSE UNIT
$860,000 $366,000
6.50% 9.25%
14.67% 14.38%
8.79% 7.92%
$460 $300
52 37
2.78% 4.26%
54.1 65.58

Source: CoreLogic

DSR Score for property investment : Good (H), Above average (U)
Find a mortgage broker in Kingsville VIC
Demographics
Total population 3509
Median household income ($/weekly) 1372
Median age of persons 35
Median housing loan repayment ($/monthly) 2040
Average household size 2.3
  • Census Count Percent(%)
    0-4 years 371 10.6
    5-14 years 316 9.0
    25-34 years 754 21.5
    35-44 years 830 23.7
    45-54 years 429 12.2
    Others 809 23.1
    Age Group
    Census Count Percent(%)
    Not Married 1111 43.0
    Registered Married 1031 39.9
    Defacto Relationship 441 17.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 2200 67.7
    Indonesia 105 3.2
    United Kingdom 120 3.7
    Viet Nam 106 3.3
    Other 242 7.4
    Others 478 14.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 143 4.6
    Christianity 1573 50.5
    Hinduism 76 2.4
    Islam 149 4.8
    No Religion 1146 36.8
    Others 27 0.9
    Religious Affiliation
  • Census Count Percent(%)
    $600-$799 125 9.3
    $1,000-$1,249 118 8.8
    $1,500-$1,999 149 11.1
    $2,000-$2,499 125 9.3
    $2,500-$2,999 141 10.5
    Others 681 50.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1215 46.5
    Not in the labour force 664 25.4
    Employed, worked part-time 510 19.5
    Employed, away from work 124 4.7
    Unemployed, looking for work 99 3.8
    Person Characteristics
  • Census Count Percent(%)
    Managers 238 12.9
    Professionals 639 34.6
    Technicians & trades workers 179 9.7
    Community & personal service workers 163 8.8
    Clerical & administrative workers 265 14.3
    Others 365 19.7
    Occupation
    Census Count Percent(%)
    Pre-school 89 12.8
    Infants/Primary 205 29.4
    Secondary 98 14.0
    Technical or Further Educational Institution 78 11.2
    University or other Tertiary Institutions 193 27.7
    Others 35 5.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2265 69.2
    Flat, unit or apartment 555 17.0
    Semi-detached, row or terrace house, townhouse 424 13.0
    House or flat attached to a shop, office 29 0.9
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 549 39.2
    Being purchased 546 39.0
    Fully owned 302 21.6
    Other tenure type 3 0.2
    Tenure Type
Census 2011, ABS
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