With a capital gain of -14.72% for the last 12 months, South Kingsville, 3015 has performed for property investments than its average annual 5.90% property growth over the last 5 years.
If we look at median property appreciation over just the last three months, South Kingsville has given property investors a paper return of -2.33%. This puts Suburb as 535 on a list of fastest fasting appreciating suburbs in VIC
Vendor discounting in South Kingsville is giving property investors an average Vendor Discount of around -6.42%. This puts suburb at number 316th in VIC when ranking the most discounted suburbs.
South Kingsville is 451th on a list of best yielding suburbs for rents in VIC with a 3.05% return
Property value increases in South Kingsville have tracked lower than the VIC average of 0.68% over the last 12 months.
South Kingsville, 3015 is offering VIC ‘s 132th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this VIC.
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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.