Property value increases in Point Cook have tracked just lower than the VIC average of 6.30% over the last 12 months.
A 51.16% growth in median value for property investors in Point Cook,3030 puts this suburb at number 479th in terms of best performing suburbs in VIC
Property buyers and investors in Point Cook 3030 should be seeing an average reduction in asking price of around -4.60% . This means that Point Cook is holding prices well when compared to other suburbs in VIC.
A $400 per week rent on the median house gives suburb investors a gross yield of circa 3.20%, without taking into account capital value appreciation, which has been averaging out at 4.65%.
At number 701th 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 2.75% recorded in median house prices.
If we look at median property appreciation over just the last three months, Point Cook has given property investors a paper return of -0.53%. This puts Suburb as 279 on a list of fastest fasting appreciating suburbs in VIC
Point Cook, 3030 is offering VIC ‘s 151th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 20% of discounts offered by this VIC.
A $380 per week rent on the median house gives suburb investors a gross yield of circa 4.23%, without taking into account capital value appreciation, which has been averaging out at 4.33%.
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.