Suburb Profile Report for Sunshine West VIC (3020)

Sunshine West House: Median price $650,000, Annual capital growth 10.26%, Number of sales 192, Weekly median advertised rent $350

Sunshine West Unit: Median price $470,400, Annual capital growth 6.43%, Number of sales 49, Weekly median advertised rent $340

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report

At number 305th in the list of Australian suburbs ordered by increase in median house value over the last year, Sunshine West, 3020 is in the top 10% with a property value increase of 22.50% recorded in median house prices.

A 69.87% growth in median value for property investors in Sunshine West,3020 puts this suburb at number 130th in terms of best performing suburbs in VIC

Property buyers and investors in Sunshine West 3020 should be seeing an average reduction in asking price of around -3.66% . This means that Sunshine West is holding prices well when compared to other suburbs in VIC.

In the last year 193 properties changed hands in Sunshine West, which puts it as the 126th most active market in VIC when comparing the number of sales per suburb.

A $350 per week rent on the median house gives suburb investors a gross yield of circa 2.86%, without taking into account capital value appreciation, which has been averaging out at 10.15%.

Property investors who have had real estate in Sunshine West, 3020 should be 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 17.27%

Taking the average capital gain, or increase in median house value, Sunshine West,3020 has racked up an average of 17.27% over the period. This ranks it number 439th in the whole country for real estate investors looking at median house price increases.

Sellers are offering property buyers an average discount of -3.95% to buyers in Sunshine West at the moment, which is less than average for the rest of VIC.

Sunshine West is 194th on a list of best yielding suburbs for rents in VIC with a 3.92% return

Metrics i HOUSE UNIT
$650,000 $470,400
6.04% 4.53%
22.64% 22.18%
10.26% 6.43%
$350 $340
192 49
2.80% 3.76%
52.37 51.5

Source: CoreLogic

DSR Score for property investment : Above average (H), Good (U)
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Demographics
Total population 16742
Median household income ($/weekly) 945
Median age of persons 37
Median housing loan repayment ($/monthly) 1491
Average household size 2.9
  • Census Count Percent(%)
    5-14 years 1975 11.8
    25-34 years 2405 14.4
    35-44 years 2325 13.9
    45-54 years 2064 12.3
    55-64 years 1880 11.2
    Others 6094 36.4
    Age Group
    Census Count Percent(%)
    Not Married 6130 47.9
    Registered Married 6092 47.6
    Defacto Relationship 577 4.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 6979 44.8
    Hong Kong 554 3.6
    Netherlands 734 4.7
    Viet Nam 2144 13.8
    Other 1719 11.0
    Others 3444 22.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 2371 15.4
    Christianity 9702 63.2
    Hinduism 212 1.4
    Islam 1112 7.2
    No Religion 1750 11.4
    Others 211 1.4
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 703 14.8
    $600-$799 561 11.8
    $800-$999 477 10.0
    $1,000-$1,249 515 10.8
    $1,500-$1,999 559 11.7
    Others 1951 40.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 5994 46.8
    Employed, worked full-time 3905 30.5
    Employed, worked part-time 1778 13.9
    Unemployed, looking for work 665 5.2
    Employed, away from work 463 3.6
    Person Characteristics
  • Census Count Percent(%)
    Professionals 735 12.0
    Technicians & trades workers 855 13.9
    Clerical & administrative workers 864 14.1
    Machinery operators & drivers 918 14.9
    Labourers 1038 16.9
    Others 1735 28.2
    Occupation
    Census Count Percent(%)
    Infants/Primary 1114 30.3
    Secondary 1063 28.9
    Technical or Further Educational Institution 407 11.1
    University or other Tertiary Institutions 668 18.2
    Other type of educational institution 266 7.2
    Others 161 4.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 15020 94.5
    Flat, unit or apartment 517 3.3
    Semi-detached, row or terrace house, townhouse 328 2.1
    House or flat attached to a shop, office 28 0.2
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 2339 44.7
    Being purchased 1617 30.9
    Rented 1247 23.9
    Other tenure type 25 0.5
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals