At number 1643th in the list of Australian suburbs ordered by increase in median house value over the last year, Point Cook, 3030 is in the top half with a property value increase of 2.89% recorded in median house prices.
A 48.91% growth in median value for property investors in Point Cook,3030 puts this suburb at number 371th in terms of best performing suburbs in VIC
The most recent median price for Point Cook is $649250, with sellers offering an average of -6.45% off the asking price.
A $420 per week rent on the median house gives suburb investors a gross yield of circa 3.36%, without taking into account capital value appreciation, which has been averaging out at 4.75%.
Property investors who have had real estate in Point Cook, 3030 should be relatively 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 4.35%
When looking at the potential capital gains offered to property investors over the last 3 years, Point Cook comes in at number 101th in VIC.
Property investors looking for a bargain in Point Cook should be aiming for at least -4.97% off the asking price, which is the average vendor discount being achieved at the moment.
The VIC suburb of Point Cook, 3030 is in the Wyndham (C) local government area.
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House stock drops in RAAF base
Median house price: $600,000
Stock on market: -58.2%
12-month growth: 14.7%
The number of houses in the suburb of Point Cook plummeted from over a thousand in December 2016 to just 431 one year later.
Known as the birthplace of the RAAF, the suburb has recorded consistent increases in price over the most recent five-year period, culminating in a median house value of $600,000 as of December 2017. With houses on the market already selling quite quickly at just 29 days on the market, the drop in supply could heat up competition and amp up demand further.
Regarded as one of western Melbourne’s growth suburbs, Point Cook is home to several schools, including Point Cook College, the Notre Dame Campus of Emmanuel College and St Mary’s Catholic Primary School. Point Cook Town Centre is the main commercial hub, with many shops, supermarkets and dining establishments.