Sunshine West is an average performer in VIC when comparing median price capital growth over the last year. Sunshine West gave property investors a good capital gain figure when compared to the rest of the state, with 12.80%.
While Sunshine West,3020 ranked number 507th in VIC for increase in median house value (annualised) increase, it is ranked 117th over the last 5 years.
At number 394th of VIC’s most discounted properties, Sunshine West is in the TOP 40% of the state/territory when listing in order of most discounted to least.
Often selling an investment property can take time, and in Sunshine West the average time real estate has been on the market is 55.42 days.
Advertised rents are around the $350 mark per week – giving a return of 2.79% based on the median price in Suburb
Over the last year, property investments in Sunshine West, 3020 have given investors a capital gain of -0.33%. This compares badly with the 7.50% for VIC as a whole.
Sunshine West,3020 was ranked 1266 in Australia by increase in median property value over the quarter.
LACK OF BUYER INTEREST may well be the reason that Sunshine West is offering property investors an average of -4.65. This rate of discount on properties puts Suburb at number 236th in terms of most discounted suburbs in VIC
On average over the past year, suburb has had 2.75 sales per month, which equates to 33 per year.
A $340 per week rent on the median house gives suburb investors a gross yield of circa 3.93%, without taking into account capital value appreciation, which has been averaging out at 4.52%.
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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.
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