Kingsville, 3012 ranked 109th in VIC when comparing growth in median property values or capital gain over the last 12 months. Kingsville is one of 2098 in our list for VIC
A 58.39% growth in median value for property investors in Kingsville,3012 puts this suburb at number 112th in terms of best performing suburbs in VIC
Vendor discounting in Kingsville is giving property investors an average Vendor Discount of around -7.37%. This puts suburb at number 122th in VIC when ranking the most discounted suburbs.
At number 1277 in a list of fastest selling suburbs, Kingsville is in the TOP 40% of suburbs in Australia with an average of days on market 66.07 for properties listed there.
Giving property investors a a poor capital gain of -7.37% for the last year, Kingsville, 3012 is the 1475th highest performer in Australia in this respect.
Kingsville,3012 has offered an average of -7.37% return per annum in house price rises to property investors over the last three years.
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 -5.00% is being offered, which puts this VIC suburb at 743th most discounted overall in Australia.
Residents and property investors in Kingsville have been waiting around 70.72 days to sell a property.
With the median price for a house in Kingsville being $352000 and the advertised rent reaching $290 the gross rental yield for property investors calculates out to be 4.28%
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.