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.
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.