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 7.50%
Taking the average capital gain, or increase in median house value, Point Cook,3030 has racked up an average of 7.50% over the period. This ranks it number 341th in the whole country for real estate investors looking at median house price increases.
Property investors looking for a bargain in Point Cook should be aiming for at least -6.55% 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 47.19 days to sell a property.
Advertised rents are around the $420 mark per week – giving a return of 3.39% based on the median price in Suburb
Property value increases in Point Cook have tracked just higher than the VIC average of 2.97% over the last 12 months.
Taking the average capital gain, or increase in median house value, Point Cook,3030 has racked up an average of 8.83% over the period. This ranks it number 283th in the whole country for real estate investors looking at median house price increases.
At number 17th of VIC’s most discounted properties, Point Cook is in the bottom 10% of the state/territory when listing in order of most discounted to least.
Residents and property investors in Point Cook have been waiting around 65.52 days to sell a property.
With the median price for a house in Point Cook being $462000 and the advertised rent reaching $385 the gross rental yield for property investors calculates out to be 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.