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