If you compare the increase in value of investment property in Sunshine West, 3020 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this VIC suburb was 2.44%.
Over the longer term, Sunshine West has seen property prices show investors a 40.00% return over the last 3 years. This is worse than over the last 12 months
Sellers are offering property buyers an average discount of -7.41% to buyers in Sunshine West at the moment, which is less than average for the rest of VIC.
At number 2559 in a list of fastest selling suburbs, Sunshine West is just in the bottom half of suburbs in Australia with an average of days on market 80.77 for properties listed there.
Property investors who have had real estate in Sunshine West, 3020 should be relatively pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 4.80%
Over the longer term, Sunshine West has seen property prices show investors a 27.54% return over the last 3 years. This is worse than over the last 12 months
At number 217th 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.
Residents and property investors in Sunshine West have been waiting around 47.14 days to sell a property.
Situated 14.01km from the CBD, Sunshine West is one of Brimbank (C) localities in the postcode 3020.
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