Suburb Profile Report for Sunshine West VIC (3020)

Sunshine West House: Median price $652,000, Annual capital growth 8.94%, Number of sales 170, Weekly median advertised rent $350

Sunshine West Unit: Median price $450,000, Annual capital growth 4.52%, Number of sales 33, Weekly median advertised rent $340

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

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%.

Information supplied by:


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
$652,000 $450,000
-0.84% -2.47%
12.80% -0.33%
8.94% 4.52%
$350 $340
170 33
2.79% 3.93%
55.42 67.78

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