Over the last year, property investments in Airport West, 3042 have given investors a capital gain of -7.13%. This compares badly with the 1.54% for VIC as a whole.
Airport West,3042 was ranked 3030 in Australia by increase in median property value over the quarter.
Our latest figures would indicate that property sellers in Airport West are currently offering property investors an average price cut of -4.47% below the asking price at the moment.
Airport West, 3042’s gross rental yield is 2.68%
Airport West has had a A very good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 12.91% to date .
Airport West,3042 has offered an average of 12.91% return per annum in house price rises to property investors over the last three years.
Using the current median advertised rental of $420 and the average annual increase in value of a median property of 5.24%, investors should hope to achieve an overall return of 3.55%
Information supplied by:
Long-term house market
Median house price: $845,000
Three-year growth: 40.8%
Rental yield: 2.5%
Named for its proximity to the Essendon Airport, the suburb of Airport West has a lot of growth potential.
Since 2013, prices have been on a consistent positive trend, anchored by a very high average annual growth rate. Moreover, houses are selling in just over a month. The rental market is not a hotbed of cash flow, however, so investors need to be ready to buckle down for the long haul.
Airport West is bordered by the Calder Freeway and the Tullamarine Freeway. The local Westfield on Matthews is a convenient tram stop, and there are several bus routes serving the area. Another shopping district can be found on McNamara Avenue. The renowned Silver Circus also makes Airport West its base.
The suburb is home to Niddrie Primary School, Niddrie Campus, St Christopher’s Primary School and Essendon Keilor College.