Sunshine West, 3020 ranked 314th in VIC when comparing growth in median property values or capital gain over the last 12 months. Sunshine West is one of 2099 in our list for VIC
If we look at median property appreciation over just the last three months, Sunshine West has given property investors a paper return of 1.60%. This puts Suburb as 329 on a list of fastest fasting appreciating suburbs in VIC
At number 283th of VIC’s most discounted properties, Sunshine West is in the middle of the state/territory when listing in order of most discounted to least.
Residents and property investors in Sunshine West have been waiting around 86.7889 days to sell a property.
Property value increases in Sunshine West have tracked just higher than the VIC average of 6.11% over the last 12 months.
Over the longer term, Sunshine West has seen property prices show investors a 25.97% return over the last 3 years. This is worse than over the last 12 months
Sellers are offering property buyers an average discount of -6.67% to buyers in Sunshine West at the moment, which is less than average for the rest of VIC.
Residents and property investors in Sunshine West have been waiting around 68.48 days to sell a property.
Situated 14.29km from the CBD, Sunshine West is one of Brimbank (C) localities in the postcode 3020.
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Houses double up in sunny suburb
Median house price: $657,500
Stock on market: 74.1%
12-month growth: 19.5%
Housing stock doubled in the suburb of Sunshine West over the year to June 2018, dominating the suburb’s property market.
Indeed, the housing market has been on a roll, coming off the back of a streak of positive growth that has been on the record since 2013. In the past 12 months alone, Sunshine West experienced almost 20% growth in house prices; as a result, the median value is over $650,000. In the three months to June 2018, prices increased by a further 2.7%, and houses stay on the market for only 56 days.
Gentrification has transformed Sunshine West into an in-demand spot, and it is set to improve further. The suburb is mainly industrial and residential, but it is well located just 15km from the Melbourne CBD, providing access to many amenities. There are also several reserves in Sunshine West.