Suburb Profile Report for Airport West VIC (3042)

Airport West House: Median price $741,000, Annual capital growth 8.63%, Number of sales 110, Weekly median advertised rent $380

Airport West Unit: Median price $535,000, Annual capital growth 5.82%, Number of sales 53, Weekly median advertised rent $380

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

Source: CoreLogic

  • House Report
  • Unit Report

At number 828th in the list of Australian suburbs ordered by increase in median house value over the last year, Airport West, 3042 is in the top 20% with a property value increase of 13.39% recorded in median house prices.

Airport West,3042 was ranked 1757 in Australia by increase in median property value over the quarter.

The most recent median price for Airport West is $741000, with sellers offering an average of -2.96% off the asking price.

Advertised rents are around the $380 mark per week – giving a return of 2.67% based on the median price in Suburb

Investment property in Airport West has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 7.65%

Over the longer term, Airport West has seen property prices show investors a 15.05% return over the last 3 years. This is worse than over the last 12 months

Vendor discounting in Airport West is giving property investors an average Vendor Discount of around -2.45%. This puts suburb at number 303th in VIC when ranking the most discounted suburbs.

With the median price for a house in Airport West being $535000 and the advertised rent reaching $380 the gross rental yield for property investors calculates out to be 3.69%

Metrics i HOUSE UNIT
$741,000 $535,000
2.21% 4.49%
13.39% 7.65%
8.63% 5.82%
$380 $380
110 53
2.67% 3.69%
82.63 74.21

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 6958
Median household income ($/weekly) 1141
Median age of persons 40
Median housing loan repayment ($/monthly) 1863
Average household size 2.4
  • Census Count Percent(%)
    25-34 years 1024 14.7
    35-44 years 1094 15.7
    45-54 years 846 12.2
    55-64 years 767 11.0
    65-74 years 693 10.0
    Others 2534 36.4
    Age Group
    Census Count Percent(%)
    Registered Married 2675 48.2
    Not Married 2471 44.5
    Defacto Relationship 406 7.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 4725 71.3
    Indonesia 129 1.9
    Japan 619 9.3
    United Kingdom 137 2.1
    Other 215 3.2
    Others 803 12.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 128 2.0
    Christianity 5027 77.8
    Hinduism 113 1.7
    Islam 103 1.6
    No Religion 1066 16.5
    Others 21 0.3
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 317 12.5
    $600-$799 248 9.8
    $1,250-$1,499 228 9.0
    $1,500-$1,999 312 12.3
    $2,000-$2,499 244 9.6
    Others 1184 46.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2164 38.7
    Not in the labour force 2145 38.3
    Employed, worked part-time 910 16.3
    Employed, away from work 219 3.9
    Unemployed, looking for work 158 2.8
    Person Characteristics
  • Census Count Percent(%)
    Managers 342 10.4
    Professionals 604 18.3
    Technicians & trades workers 548 16.6
    Clerical & administrative workers 620 18.8
    Sales 339 10.3
    Others 843 25.6
    Occupation
    Census Count Percent(%)
    Pre-school 102 8.3
    Infants/Primary 415 33.9
    Secondary 314 25.6
    Technical or Further Educational Institution 124 10.1
    University or other Tertiary Institutions 210 17.1
    Others 60 4.9
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 5443 81.4
    Flat, unit or apartment 697 10.4
    Semi-detached, row or terrace house, townhouse 544 8.1
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 1265 46.5
    Being purchased 815 30.0
    Rented 627 23.0
    Other tenure type 14 0.5
    Tenure Type
Census 2011, ABS
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Recent sales & rentals