Suburb Profile Report for Kennington VIC (3550)

Kennington House: Median price $345,000, Annual capital growth 4.49%, Number of sales 104, Weekly median advertised rent $300

Kennington Unit: Median price $228,500, Annual capital growth 2.49%, Number of sales 68, Weekly median advertised rent $243

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

Source: CoreLogic

  • House Report
  • Unit Report

VIC has seen average median house prices change by 7.80% which means that Kennington, 3550 has done well for property investors by showing a capital gain of 3.29% over the last year

If we look at median property appreciation over just the last three months, Kennington has given property investors a paper return of -2.80%. This puts Suburb as 615 on a list of fastest fasting appreciating suburbs in VIC

LACK OF BUYER INTEREST may well be the reason that Kennington is offering property investors an average of -6.04. This rate of discount on properties puts Suburb at number 287th in terms of most discounted suburbs in VIC

Using the current median advertised rental of $300 and the average annual increase in value of a median property of 4.49%, investors should hope to achieve an overall return of 4.52%

If you compare the increase in value of investment property in Kennington, 3550 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 7.53%.

Kennington,3550 has offered an average of 7.53% return per annum in house price rises to property investors over the last three years.

Vendor discounting in Kennington is giving property investors an average Vendor Discount of around -8.21%. This puts suburb at number 22th in VIC when ranking the most discounted suburbs.

With the median price for a house in Kennington being $228500 and the advertised rent reaching $242.5 the gross rental yield for property investors calculates out to be 5.52%

HOUSE UNIT
$345,000 $228,500
-2.80% 1.56%
3.29% 7.53%
4.49% 2.49%
$300 $243
104 68
4.52% 5.52%
80.55 97.66

Source: CoreLogic

DSR Score for property investment : Above average (H), Above average (U)
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Demographics
Total population 5830
Median household income ($/weekly) 990
Median age of persons 40
Median housing loan repayment ($/monthly) 1300
Average household size 2.3
  • Census Count Percent(%)
    20-24 years 641 11.0
    25-34 years 631 10.8
    35-44 years 640 11.0
    45-54 years 726 12.5
    55-64 years 623 10.7
    Others 2569 44.1
    Age Group
    Census Count Percent(%)
    Not Married 2123 50.0
    Registered Married 1807 42.6
    Defacto Relationship 315 7.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 4971 89.0
    Croatia 56 1.0
    Indonesia 44 0.8
    United Kingdom 130 2.3
    Other 100 1.8
    Others 284 5.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 80 1.5
    Christianity 3907 72.6
    Islam 30 0.6
    Other Religious Groups 32 0.6
    No Religion 1307 24.3
    Others 26 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 272 13.0
    $600-$799 260 12.4
    $800-$999 204 9.7
    $1,000-$1,249 210 10.0
    $1,500-$1,999 240 11.4
    Others 912 43.5
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1852 40.1
    Employed, worked full-time 1533 33.2
    Employed, worked part-time 946 20.5
    Employed, away from work 152 3.3
    Unemployed, looking for work 140 3.0
    Person Characteristics
  • Census Count Percent(%)
    Professionals 662 25.2
    Technicians & trades workers 318 12.1
    Community & personal service workers 324 12.3
    Clerical & administrative workers 344 13.1
    Sales 306 11.6
    Others 673 25.6
    Occupation
    Census Count Percent(%)
    Pre-school 80 5.7
    Infants/Primary 377 27.0
    Secondary 360 25.8
    Technical or Further Educational Institution 133 9.5
    University or other Tertiary Institutions 399 28.6
    Others 46 3.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4554 86.7
    Flat, unit or apartment 457 8.7
    Semi-detached, row or terrace house, townhouse 237 4.5
    House or flat attached to a shop, office 4 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 850 37.7
    Rented 835 37.0
    Being purchased 562 24.9
    Other tenure type 9 0.4
    Tenure Type
Census 2011, ABS
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