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%
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
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Tenants flood into Melbourne
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