Suburb Profile Report for South Kingsville VIC (3015)

South Kingsville House: Median price $987,500, Annual capital growth 7.45%, Number of sales 26, Weekly median advertised rent $450

South Kingsville Unit: Median price $678,000, Annual capital growth 8.00%, Number of sales 21, Weekly median advertised rent $370

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

Investment property in South Kingsville has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 0.77%

When looking at the potential capital gains offered to property investors over the last 3 years, South Kingsville comes in at number 292th in VIC.

State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.39% offered to property buyers. Sellers in South Kingsville itself are offering an average vendor discount of -4.41% to real estate investors.

South Kingsville, 3015’s gross rental yield is 2.37%

Property investors who have had real estate in South Kingsville, 3015 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 6.27%

South Kingsville,3015 was ranked 281 in Australia by increase in median property value over the quarter.

At number 86th of VIC’s most discounted properties, South Kingsville is in the bottom 30% of the state/territory when listing in order of most discounted to least.

Residents and property investors in South Kingsville have been waiting around 72.86 days to sell a property.

Using the current median advertised rental of $370 and the average annual increase in value of a median property of 8.00%, investors should hope to achieve an overall return of 2.84%

Information supplied by:


May 2018

M
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Nestled in the heart of Melbourne, South Kingsville enjoyed an influx of tenants as the average vacancy rate fell from 2.6% in February 2017 to just 1.6% a year laterFull summary

Tenants flood into Melbourne

Postcode: 3015

Median unit price: $630,000

Vacancy rate: 1.6%

Three-year growth: 46.5%

Nestled in the heart of Melbourne, South Kingsville enjoyed an influx of tenants as the average vacancy rate fell from 2.6% in February 2017 to just 1.6% a year later.

A likely factor is the suburb’s proximity to the Melbourne CBD – it is only about 10 minutes away by car, and roughly a 20-minute trip by train from Spotswood railway station. Thus, unit prices have generally risen consistently since 2013 at an average annual growth rate of 7.4%.

South Kingsville is regarded as the smallest suburb in the west of Melbourne. Edwards Reserve is the centre of recreation for residents – it contains an oval for soccer and cricket games and is a picnic spot. Vernon Street serves as the suburb’s shopping hub.

Close
Metrics i HOUSE UNIT
$987,500 $678,000
-0.25% 3.83%
0.77% 6.27%
7.45% 8.00%
$450 $370
26 21
2.37% 2.84%
86.95 72.86

Source: CoreLogic

DSR Score for property investment : Balanced (H), Above average (U)
Find a mortgage broker in South Kingsville VIC
Demographics
Total population 1829
Median household income ($/weekly) 1272
Median age of persons 35
Median housing loan repayment ($/monthly) 2000
Average household size 2.3
  • Census Count Percent(%)
    5-14 years 169 9.2
    25-34 years 398 21.8
    35-44 years 335 18.3
    45-54 years 236 12.9
    55-64 years 172 9.4
    Others 519 28.4
    Age Group
    Census Count Percent(%)
    Not Married 639 45.4
    Registered Married 611 43.4
    Defacto Relationship 159 11.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 1203 69.3
    Indonesia 43 2.5
    Papua New Guinea 41 2.4
    United Kingdom 70 4.0
    Other 118 6.8
    Others 261 15.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 55 3.3
    Christianity 995 60.0
    Hinduism 42 2.5
    Islam 122 7.4
    No Religion 430 26.0
    Others 13 0.8
    Religious Affiliation
  • Census Count Percent(%)
    $600-$799 74 10.3
    $800-$999 66 9.2
    $1,500-$1,999 83 11.6
    $2,000-$2,499 67 9.4
    $2,500-$2,999 67 9.4
    Others 359 50.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 661 46.4
    Not in the labour force 412 28.9
    Employed, worked part-time 244 17.1
    Employed, away from work 61 4.3
    Unemployed, looking for work 48 3.4
    Person Characteristics
  • Census Count Percent(%)
    Managers 118 12.2
    Professionals 254 26.2
    Technicians & trades workers 116 12.0
    Community & personal service workers 83 8.6
    Clerical & administrative workers 177 18.3
    Others 221 22.8
    Occupation
    Census Count Percent(%)
    Pre-school 37 10.2
    Infants/Primary 108 29.8
    Secondary 71 19.6
    Technical or Further Educational Institution 35 9.6
    University or other Tertiary Institutions 99 27.3
    Others 13 3.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 897 51.5
    Semi-detached, row or terrace house, townhouse 532 30.5
    Flat, unit or apartment 306 17.6
    House or flat attached to a shop, office 7 0.4
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 321 41.5
    Being purchased 254 32.9
    Fully owned 189 24.5
    Other tenure type 9 1.2
    Tenure Type
Census 2011, ABS
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