If you compare the increase in value of investment property in Keilor East, 3033 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was 0.00%.
Taking the average capital gain, or increase in median house value, Keilor East,3033 has racked up an average of 0.00% over the period. This ranks it number 3962th in the whole country for real estate investors looking at median house price increases.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -1.95% offered to property buyers. Sellers in Keilor East itself are offering an average vendor discount of 0.00% to real estate investors.
In the last year 224 properties changed hands in Keilor East, which puts it as the 120th most active market in VIC when comparing the number of sales per suburb.
A $420 per week rent on the median house gives suburb investors a gross yield of circa 9.10%, without taking into account capital value appreciation, which has been averaging out at 3.04%.
Property investors who have had real estate in Keilor East, 3033 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 50.59%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Keilor East has increased when compared to the 5 year average annual rate.
Vendor discounting in Keilor East is giving property investors an average Vendor Discount of around -3.93%. This puts suburb at number 104th in VIC when ranking the most discounted suburbs.
With the median price for a house in Keilor East being $718000 and the advertised rent reaching $470 the gross rental yield for property investors calculates out to be 3.82%
Information supplied by:
Frank Mazzella
GMP Real Estate
M
9331 0111
O
0418 553 119
W
http://gmprealestate.com.au/
E
fm@gmprealestate.com.au
Keilor East is an established, predominantly residential approximately 10km from the CBD and with several direct access routes there. A small commercial / industrial pocket is located on the NW border of Keilor East, separated from the residential area by the Western Ring Road.
Selling points: Well serviced by schools with two of the state’s top private schools located on its boundaries. Plenty of medical facilities and shops available at Milleara Shopping Centre, Centreway Shops and Dinah Parade strip and easy access to the Keilor Road café precinct.
Most sought-after properties: A variety of properties in the area bounded by Keilor Rd to the north, Buckley St to the south, Milleara Rd to the west and Rachelle Rd to the east
Most common properties: 3 bedroom BV homes
Top amenities: Schools, shops and medical facilities.
Local industry and business: Small business operators, retail shops and tradesmen.
Recent changes: The expansion of the Milleara Shopping Centre and development of large, impressive homes in the Valley Lakes Estate.
Best streets: This is subjective and would depend on whether views, convenience to shops or access to parks is required.
Public transport: Several bus routes operate throughout Keilor East providing access to the transport hubs at Highpoint Shopping Centre and Essendon Station.
Main arteries: Milleara Road and Buckley Street are the main arterial roads in the suburb. Keilor East is bounded by the Western Ring Road and Calder Freeway.