At number 3145th in the list of Australian suburbs ordered by increase in median house value over the last year, South Kingsville, 3015 is in the BOTTOM 30% with a property value increase of -4.76% recorded in median house prices.
If we look at median property appreciation over just the last three months, South Kingsville has given property investors a paper return of 0.00%. This puts Suburb as 507 on a list of fastest fasting appreciating suburbs in VIC
Residents and property investors in South Kingsville have been waiting around 115.5 days to sell a property.
Situated 8.41km from the CBD, South Kingsville is one of Hobsons Bay (C) localities in the postcode 3015.
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 -6.08% is being offered, which puts this VIC suburb at 512th most discounted overall in Australia.
At number 214 in a list of fastest selling suburbs, South Kingsville is in the TOP 20% of suburbs in Australia with an average of days on market 55.913 for properties listed there.
Property investors should expect to get $380 weekly from the median priced house in this suburb.
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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.