Suburb Profile Report for Sunshine West VIC (3020)

Sunshine West House: Median price $650,000, Annual capital growth 8.73%, Number of sales 202, Weekly median advertised rent $350

Sunshine West Unit: Median price $453,500, Annual capital growth 4.52%, Number of sales 40, Weekly median advertised rent $340

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

Property value increases in Sunshine West have tracked just higher than the VIC average of 7.88% over the last 12 months.

Taking the average capital gain, or increase in median house value, Sunshine West,3020 has racked up an average of 10.36% over the period. This ranks it number 214th in the whole country for real estate investors looking at median house price increases.

Sunshine West, 3020 is offering VIC ‘s 233th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this VIC.

Property investors should expect to get $350 weekly from the median priced house in this suburb.

Giving property investors a an average capital gain of 3.30% for the last year, Sunshine West, 3020 is the 751th highest performer in Australia in this respect.

Comparing Sunshine West,3020 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

Property investors looking for a bargain in Sunshine West should be aiming for at least -4.54% off the asking price, which is the average vendor discount being achieved at the moment.

Sunshine West is 191th on a list of best yielding suburbs for rents in VIC with a 3.90% return

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September 2018

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Housing stock doubled in the suburb of Sunshine West over the year to June 2018, dominating the suburb’s property marketFull summary

Houses double up in sunny suburb

Postcode: 3020

Median house price: $657,500

Stock on market: 74.1%

12-month growth: 19.5%

Housing stock doubled in the suburb of Sunshine West over the year to June 2018, dominating the suburb’s property market.

Indeed, the housing market has been on a roll, coming off the back of a streak of positive growth that has been on the record since 2013. In the past 12 months alone, Sunshine West experienced almost 20% growth in house prices; as a result, the median value is over $650,000. In the three months to June 2018, prices increased by a further 2.7%, and houses stay on the market for only 56 days.

Gentrification has transformed Sunshine West into an in-demand spot, and it is set to improve further. The suburb is mainly industrial and residential, but it is well located just 15km from the Melbourne CBD, providing access to many amenities. There are also several reserves in Sunshine West.

Close
Metrics i HOUSE UNIT
$650,000 $453,500
-1.14% 0.44%
10.36% 3.30%
8.73% 4.52%
$350 $340
202 40
2.80% 3.90%
56.89 47

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
Find a mortgage broker in Sunshine West VIC
Demographics
Total population 16742
Median household income ($/weekly) 945
Median age of persons 37
Median housing loan repayment ($/monthly) 1491
Average household size 2.9
  • Census Count Percent(%)
    5-14 years 1975 11.8
    25-34 years 2405 14.4
    35-44 years 2325 13.9
    45-54 years 2064 12.3
    55-64 years 1880 11.2
    Others 6094 36.4
    Age Group
    Census Count Percent(%)
    Not Married 6130 47.9
    Registered Married 6092 47.6
    Defacto Relationship 577 4.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 6979 44.8
    Hong Kong 554 3.6
    Netherlands 734 4.7
    Viet Nam 2144 13.8
    Other 1719 11.0
    Others 3444 22.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 2371 15.4
    Christianity 9702 63.2
    Hinduism 212 1.4
    Islam 1112 7.2
    No Religion 1750 11.4
    Others 211 1.4
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 703 14.8
    $600-$799 561 11.8
    $800-$999 477 10.0
    $1,000-$1,249 515 10.8
    $1,500-$1,999 559 11.7
    Others 1951 40.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 5994 46.8
    Employed, worked full-time 3905 30.5
    Employed, worked part-time 1778 13.9
    Unemployed, looking for work 665 5.2
    Employed, away from work 463 3.6
    Person Characteristics
  • Census Count Percent(%)
    Professionals 735 12.0
    Technicians & trades workers 855 13.9
    Clerical & administrative workers 864 14.1
    Machinery operators & drivers 918 14.9
    Labourers 1038 16.9
    Others 1735 28.2
    Occupation
    Census Count Percent(%)
    Infants/Primary 1114 30.3
    Secondary 1063 28.9
    Technical or Further Educational Institution 407 11.1
    University or other Tertiary Institutions 668 18.2
    Other type of educational institution 266 7.2
    Others 161 4.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 15020 94.5
    Flat, unit or apartment 517 3.3
    Semi-detached, row or terrace house, townhouse 328 2.1
    House or flat attached to a shop, office 28 0.2
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 2339 44.7
    Being purchased 1617 30.9
    Rented 1247 23.9
    Other tenure type 25 0.5
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals