Investment property in Point Cook has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -2.33%
Comparing Point Cook,3030 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Property investors looking for a bargain in Point Cook should be aiming for at least -7.99% off the asking price, which is the average vendor discount being achieved at the moment.
Residents and property investors in Point Cook have been waiting around 70.3761 days to sell a property.
With the median price for a house in Point Cook being $630000 and the advertised rent reaching $420 the gross rental yield for property investors calculates out to be 3.47%
At number 308th in the list of Australian suburbs ordered by increase in median house value over the last year, Point Cook, 3030 is in the top 30% with a property value increase of 5.84% recorded in median house prices.
A 44.58% growth in median value for property investors in Point Cook,3030 puts this suburb at number 144th in terms of best performing suburbs in VIC
Point Cook, 3030 is offering VIC ‘s 64th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 30% of discounts offered by this VIC.
Advertised rents are around the $400 mark per week – giving a return of 4.33% based on the median price in Suburb
Information supplied by:
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.