With a capital gain of -0.77% for the last 12 months, South Kingsville, 3015 has performed for property investments than its average annual 7.16% property growth over the last 5 years.
Across a shorter period, South Kingsville, 3015 has seen a median price increase of 0.26% 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 South Kingsville, 3015. Typically our figures indicate that -5.92% is being offered, which puts this VIC suburb at 1622th most discounted overall in Australia.
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
Information supplied by:
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