With a capital gain of -4.62% for the last 12 months, Sunshine West, 3020 has performed for property investments than its average annual 7.30% property growth over the last 5 years.
Over the longer term, Sunshine West has seen property prices show investors a 34.05% return over the last 3 years. This is worse than over the last 12 months
Our latest figures would indicate that property sellers in Sunshine West are currently offering property investors an average price cut of -6.09% below the asking price at the moment.
Property investors should expect to get $370 weekly from the median priced house in this suburb.
Sunshine West, 3020 ranked 158th in VIC when comparing growth in median property values or capital gain over the last 12 months. Sunshine West is one of 2099 in our list for VIC
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 -4.13% off the asking price, which is the average vendor discount being achieved at the moment.
Sunshine West, 3020’s gross rental yield is 4.00%
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Houses double up in sunny suburb
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.