Suburb Profile Report for Point Cook VIC (3030)

Point Cook House: Median price $520,000, Annual capital growth 4.22%, Number of sales 1031, Weekly median advertised rent $395

Point Cook Unit: Median price $385,000, Annual capital growth 2.87%, Number of sales 67, Weekly median advertised rent $350

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Property value increases in Point Cook have tracked just higher than the VIC average of 8.13% over the last 12 months.

Across a shorter period, Point Cook, 3030 has seen a median price increase of 3.79% over the last quarter.

Vendor discounting in Point Cook is giving property investors an average Vendor Discount of around -6.05%. This puts suburb at number 256th in VIC when ranking the most discounted suburbs.

On average over the past year, suburb has had 85.92 sales per month, which equates to 1031 per year.

Advertised rents are around the $395 mark per week – giving a return of 3.95% based on the median price in Suburb

VIC has seen average median house prices change by 3.56% which means that Point Cook, 3030 has done well for property investors by showing a capital gain of 8.45% over the last year

Point Cook,3030 was ranked 797 in Australia by increase in median property value over the quarter.

Property investors looking for a bargain in Point Cook should be aiming for at least -5.25% off the asking price, which is the average vendor discount being achieved at the moment.

Point Cook is 115th on a list of best yielding suburbs for rents in VIC with a 4.73% return

Paul Caine Information supplied by:

Paul Caine
RPM Real Estate

M (03) 9395 7488
O

W www.rpmpointcook.com.au
E paul@rpmrealestate.com.au
A coastal suburb located 20km to Melbourne's south-east, Point Cook combines beach living with many open space areas and parklands.
Known for its range of quality public and private schools and affordable housing, the suburb is offering investors a good chance to get in while the going's good and Melbourne continues to expand.
Shoppers enjoy two major retail complexes and numerous small stores, while golfers can pass the time at the Greg Norman-designed Sanctuary Lakes course.
Family homes characterise the suburb and those with four bedrooms and double lock up garages command the most interest from investors.
Point Cook is still quite a new suburb, which is continuing to grow and be developed.Full summary

Selling points: Newly developed area about 20kms from Melbourne’s CBD with affordable housing; direct CBD access via the Princes Freeway and Westgate Bridge (no tolls); and a range of government, private and Catholic schools.

Point Cook offers an abundance of open space areas, including the renowned Bayview Park at Alamanda Estate, which offers 360 degree views including the bay and city and the picturesque Point Cook Coastal Park, with historical significance and the Homestead café.

For golfers, there is an 18-hole Greg Norman designed golf course at prestigious Sanctuary Lakes resort within Point Cook.

Excellent local shopping facilities include Point Cook Town Centre, Sanctuary Lakes Shopping Centre, Boardwalk Central Shopping Centre and neighbourhood convenience stores. The suburb is in high demand for renters due to excellent CBD access and family friendly feel.

Most sought after properties: Four-bed, two-bath, two-car garage homes close to the Point Cook Town Centre and Princes Freeway usually get the most demand. The higher priced properties are taking a lot more time to sell.

Most common properties: Medium-sized family detached homes, largely built within the last 13 years.

Top amenities: Point Cook Town Centre is the main business/community hub in central Point Cook, which includes retail, cafes and restaurants. Notable amenities include Sanctuary Lakes Shopping Centre; Boardwalk Central Shopping Centre; cafés and restaurants catering for a variety of tastes including Chinese, Indian, Italian, Mexican, Thai; a range of government, private and Catholic schools; and a brand new sports facility on Point Cook Road, which includes full-sized football ovals and a soccer ground.

Local industry and business: Many residents commute to the city, but industries in the area include retail, education and industrial.

Recent changes: Point Cook is still a relatively new suburb and has been growing for about 13 years now and is still continuing to grow and develop each day. Major changes include new schools in the area with two new schools opening within the next two years, new shopping centre facilities with award winning Point Cook Town Centre opening in 2008 and local train station to be completed late 2012 early 2013.

Best streets: Buys close to either the Point Cook Town Centre, schools (central Point Cook), or closer to the freeway (older Point Cook) are the more desired areas.

Public transport: Local train station to be completed late 2012 early 2013.

Main arteries: Palmers Road, Boardwalk Boulevard and Point Cook Road are the three main roads that lead out of Point Cook to the Princes Freeway (CBD & Geelong) and surrounding suburbs.

Close
HOUSE UNIT
$520,000 $385,000
3.79% 0.15%
11.83% 8.45%
4.22% 2.87%
$395 $350
1031 67
3.95% 4.73%
59.07 71.3

Source: CoreLogic

DSR Score for property investment : Good (U), Above average (H)
Find a mortgage broker in Point Cook VIC
Demographics
Total population 32413
Median household income ($/weekly) 1986
Median age of persons 31
Median housing loan repayment ($/monthly) 2200
Average household size 3.1
  • Census Count Percent(%)
    0-4 years 4095 12.6
    5-14 years 5111 15.8
    25-34 years 7099 21.9
    35-44 years 7174 22.1
    45-54 years 3320 10.2
    Others 5614 17.3
    Age Group
    Census Count Percent(%)
    Registered Married 13831 63.0
    Not Married 5992 27.3
    Defacto Relationship 2130 9.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 17647 56.4
    Croatia 1425 4.6
    Indonesia 1839 5.9
    United Kingdom 1648 5.3
    Other 1972 6.3
    Others 6735 21.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 1419 4.7
    Christianity 17609 58.2
    Hinduism 1998 6.6
    Islam 1392 4.6
    No Religion 7319 24.2
    Others 514 1.7
    Religious Affiliation
  • Census Count Percent(%)
    $1,250-$1,499 733 7.9
    $1,500-$1,999 1517 16.3
    $2,000-$2,499 1347 14.5
    $2,500-$2,999 1502 16.1
    $3,000-$3,499 841 9.0
    Others 3369 36.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 11814 52.7
    Not in the labour force 4988 22.3
    Employed, worked part-time 3758 16.8
    Employed, away from work 955 4.3
    Unemployed, looking for work 890 4.0
    Person Characteristics
  • Census Count Percent(%)
    Managers 2554 15.5
    Professionals 4382 26.5
    Technicians & trades workers 1839 11.1
    Clerical & administrative workers 2736 16.6
    Sales 1507 9.1
    Others 3510 21.2
    Occupation
    Census Count Percent(%)
    Pre-school 845 9.9
    Infants/Primary 3537 41.5
    Secondary 1872 21.9
    Technical or Further Educational Institution 547 6.4
    University or other Tertiary Institutions 1354 15.9
    Others 375 4.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 29154 93.5
    Semi-detached, row or terrace house, townhouse 1634 5.2
    Flat, unit or apartment 398 1.3
    House or flat attached to a shop, office 6 0.0
    Caravan, cabin, houseboat 4 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 6260 62.3
    Rented 2512 25.0
    Fully owned 1233 12.3
    Other tenure type 48 0.5
    Tenure Type
Census 2011, ABS
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