Property value increases in Kingsville have tracked higher than the VIC average of 8.96% over the last 12 months.
Kingsville,3012 has offered an average of 16.35% return per annum in house price rises to property investors over the last three years.
Kingsville, 3012 is offering VIC ‘s 54th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 10% of discounts offered by this VIC.
In the last year 48 properties changed hands in Kingsville, which puts it as the 440th most active market in VIC when comparing the number of sales per suburb.
Situated 7.29km from the CBD, Kingsville is one of Maribyrnong localities in the postcode 3012.
Kingsville has had a pretty good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 9.04% to date .
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Kingsville has increased when compared to the 5 year average annual rate.
Property investors looking for a bargain in Kingsville should be aiming for at least -4.81% off the asking price, which is the average vendor discount being achieved at the moment.
Residents and property investors in Kingsville have been waiting around 71.91 days to sell a property.
With the median price for a house in Kingsville being $365000 and the advertised rent reaching $290 the gross rental yield for property investors calculates out to be 4.13%
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.