Over the last year, property investments in Kingsville, 3012 have given investors a capital gain of 18.95%. This compares favourably with the 11.63% for VIC as a whole.
Across a shorter period, Kingsville, 3012 has seen a median price increase of 7.37% over the last quarter.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Kingsville, 3012. Typically our figures indicate that -3.77% is being offered, which puts this VIC suburb at 3061th most discounted overall in Australia.
Kingsville is 454th on a list of best yielding suburbs for rents in VIC with a 2.47% return
Property value increases in Kingsville have tracked just lower than the VIC average of 6.52% over the last 12 months.
Our latest figures would indicate that property sellers in Kingsville are currently offering property investors an average price cut of -2.07% below the asking price at the moment.
Renters in Suburb are facing rents around $3600 per annum or $300 every week.
What Kingsville’s units have going for them is affordability. At just 10km east of the CBD, with good road links and a train station just a short walk away, Kingsville’s median unit price is something of a steal.Full summary
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What Kingsville’s units have going for them is affordability. At just 10km east of the CBD, with good road links and a train station just a short walk away, Kingsville’s median unit price is something of a steal.
It may not be the most fashionable of Melbourne’s inner- to middle-ring suburbs, but its one to watch as the ripple effect takes hold.
“I love Kingsville,” says Australian Property Buyers managing director Karin Mackay. “It doesn’t have the cafe latte set that Yarraville and Seddon villages have, but they’re both only about a 15-minute walk away.”
Buyer Solutions director Janet Spencer adds that the Kingsville market has really been driven by the excellent shopping in Yarraville’s Anderson Street, and that the appeal of this shopping district has radiated out towards neighbouring suburbs.
When it comes to what to buy, Mackay points out that the area has traditionally been a good pick for investors looking for apartments from the 60s and 70s to makeover and create some added value.
“But there’s also a new block of around 11 apartments that’s just being completed,” she adds. “And they’re the first new apartments that we’ve seen here for several years.”
Spencer adds that while around 10 years ago the trend was for investors to buy and renovate period homes, it’s Kingsville’s unit market that draws in the investor crowd nowadays.
“Units are the affordable option now. I’d recommend buying two-bedroom units with off-street parking and a laundry.”
Looking at its rental market statistics, renters make up about a third of the suburb’s population.