Suburb Profile Report for Kilsyth VIC (3137)

Kilsyth House: Median price $592,250, Annual capital growth 8.06%, Number of sales 162, Weekly median advertised rent $380

Kilsyth Unit: Median price $466,250, Annual capital growth 7.12%, Number of sales 93, Weekly median advertised rent $360

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

With a capital gain of 19.65% for the last 12 months, Kilsyth, 3137 has performed for property investments than its average annual 8.06% property growth over the last 5 years.

The five-year average increase in median property values for Kilsyth,3137 has given property investors a potential capital gain of 36.15% across each of those five years.

Property buyers and investors in Kilsyth 3137 should be seeing an average reduction in asking price of around -2.12% . This means that Kilsyth is holding prices well when compared to other suburbs in VIC.

Kilsyth, 3137’s gross rental yield is 3.34%

Kilsyth is in the TOP 20% in VIC when comparing median price capital growth over the last year. Kilsyth gave property investors a very good capital gain figure when compared to the rest of the state, with 11.68%.

While Kilsyth,3137 ranked number 126th in VIC for increase in median house value (annualised) increase, it is ranked 79th over the last 5 years.

Sellers are offering property buyers an average discount of -14.61% to buyers in Kilsyth at the moment, which is less than average for the rest of VIC.

With the median price for a house in Kilsyth being $466250 and the advertised rent reaching $360 the gross rental yield for property investors calculates out to be 4.02%

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Kilsyth’s claim to fame is that it was found to be Australia’s happiest suburb based on the results of a Sunday Telegraph survey back in 2009. What it’s got going for it is a scenic and quiet location, with the Dandenong Ranges providing a stunning backdrop – and it's commutable from the Melbourne CBD.Full summary

Kilsyth’s claim to fame is that it was found to be Australia’s happiest suburb based on the results of a Sunday Telegraph survey back in 2009. What it’s got going for it is a scenic and quiet location, with the Dandenong Ranges providing a stunning backdrop – and it's commutable from the Melbourne CBD.

Being around 30km from the city centre, the drive to the CBD takes around an hour via the Eastern Freeway. Or it’s a 45-minute train ride from the city via the nearby Croydon railway station. All of which makes Kilsyth popular with families who need adequate access to the CBD, but don’t want the bright lights of the city right on their doorstep.

“There are a lot of nature trails, swimming pools, cycling tracks and family friendly amenities,” explains Hocking Stuart Mooroolbark director Ken Chappell. “There are some good schools nearby, such as Kilsyth Primary and the Pembroke Secondary College. There are also private schools nearby such as Bilanook.”

What helped Kilsyth into Your Investment Property's top 100 in 2011 was a combination of its relative affordability compared to neighbouring suburbs, solid historical growth figures and an excellent supply to demand ratio.

The demographics here are good, too, with the Maroondah/Croydon Statistical Local Area showing an average annual population growth rate of over 1% over the past four years, and the average weekly family income in Kilsyth just beating the statewide average at last count ($1,196 vs $1,134).

Kilsyth’s median house price is relatively affordable in comparison to neighbouring Croydon, Montrose and Mooroolbark, and Chappell thinks that Kilsyth looks like a good option for investors chasing the ripple effect.

“Kilsyth will catch up with areas like Croydon. People start looking a couple of suburbs further in, then choose Kilsyth when they see what they can get for their money,” he says.

In terms of amenities, Kilsyth has branches or ATMs for all of the big four banks, there are three Coles supermarkets and an IGA all within a 3km radius, eight schools in the near vicinity, and a handful of pubs and cinemas all within 5km. There are parks dotted around the suburb, the largest of which is the Dorset Recreational Reserve and public golf course.

Renters accounted for 14% of all residents at last count during the 2006 Census, and SQM predicts that this figure will remain pretty solid over the next decade or so.

Chappell suggests purchasing good four-bedroom homes to capitalise on Kilsyth’s family oriented rental market. He suggests that properties areas just off the main road with access to shopping facilities will be snapped up.

“Hawthory Road, Durham Road and Cambridge Road are all within walking distance of schools and the Churinga shopping centre,” he says. “There are also townhouse developments that are attracting investors, with a fair bit happening on Cambridge Road. These developments are eight to twelve townhouses and they rent very quickly.”

Close
HOUSE UNIT
$592,250 $466,250
3.72% 1.36%
19.65% 11.68%
8.06% 7.12%
$380 $360
162 93
3.34% 4.02%
30.43 43.77

Source: CoreLogic

DSR Score for property investment : Good (U), Very good (H)
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Demographics
Total population 10043
Median household income ($/weekly) 1104
Median age of persons 39
Median housing loan repayment ($/monthly) 1603
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 1100 11.0
    25-34 years 1406 14.0
    35-44 years 1280 12.7
    45-54 years 1316 13.1
    55-64 years 1258 12.5
    Others 3684 36.7
    Age Group
    Census Count Percent(%)
    Registered Married 3526 46.9
    Not Married 3243 43.1
    Defacto Relationship 747 9.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 7817 81.0
    New Zealand 181 1.9
    Papua New Guinea 125 1.3
    United Kingdom 795 8.2
    Other 173 1.8
    Others 561 5.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 81 0.9
    Christianity 5838 64.2
    Islam 27 0.3
    Other Religious Groups 53 0.6
    No Religion 3086 33.9
    Others 14 0.2
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 407 11.7
    $600-$799 360 10.4
    $800-$999 350 10.1
    $1,500-$1,999 458 13.2
    $2,000-$2,499 353 10.2
    Others 1543 44.5
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 3090 38.9
    Not in the labour force 2826 35.6
    Employed, worked part-time 1535 19.3
    Employed, away from work 286 3.6
    Unemployed, looking for work 205 2.6
    Person Characteristics
  • Census Count Percent(%)
    Professionals 679 13.8
    Technicians & trades workers 986 20.1
    Community & personal service workers 538 11.0
    Clerical & administrative workers 795 16.2
    Labourers 535 10.9
    Others 1375 28.0
    Occupation
    Census Count Percent(%)
    Pre-school 154 7.4
    Infants/Primary 726 35.0
    Secondary 593 28.6
    Technical or Further Educational Institution 271 13.1
    University or other Tertiary Institutions 248 12.0
    Others 80 3.9
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 7837 84.1
    Semi-detached, row or terrace house, townhouse 324 3.5
    Flat, unit or apartment 1141 12.2
    Caravan, cabin, houseboat 5 0.1
    House or flat attached to a shop, office 6 0.1
    Others 4 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1576 42.2
    Fully owned 1349 36.1
    Rented 749 20.1
    Other tenure type 59 1.6
    Tenure Type
Census 2011, ABS
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