Kingsville is in the TOP 20% in VIC when comparing median price capital growth over the last year. Kingsville gave property investors a very good capital gain figure when compared to the rest of the state, with 15.11%.
A 49.17% growth in median value for property investors in Kingsville,3012 puts this suburb at number 110th in terms of best performing suburbs in VIC
Kingsville, 3012 is offering VIC ‘s 3rd 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.
Renters in Suburb are facing rents around $5640 per annum or $470 every week.
Property investors who have had real estate in Kingsville, 3012 should be 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 18.75%
The five-year average increase in median property values for Kingsville,3012 has given property investors a potential capital gain of 15.15% across each of those five years.
Our latest figures would indicate that property sellers in Kingsville are currently offering property investors an average price cut of -4.08% below the asking price at the moment.
In the last year 38 properties changed hands in Kingsville, which puts it as the 221th most active market in VIC when comparing the number of sales per suburb.
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.