Suburb Profile Report for Airport West VIC (3042)

Airport West House: Median price $842,000, Annual capital growth 7.85%, Number of sales 116, Weekly median advertised rent $400

Airport West Unit: Median price $572,000, Annual capital growth 5.32%, Number of sales 51, Weekly median advertised rent $400

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
  • House Report
  • Unit Report

Over the last year, property investments in Airport West, 3042 have given investors a capital gain of 4.60%. This compares badly with the 8.62% for VIC as a whole.

If we look at median property appreciation over just the last three months, Airport West has given property investors a paper return of -1.29%. This puts Suburb as 535 on a list of fastest fasting appreciating suburbs in VIC

Airport West3042 is located in VIC which offers an average discount of -5.19% to property investors. Airport West itself is showing figures that indicate -4.81% is the average achievable by property buyers investing in the suburb.

At number 513 in a list of fastest selling suburbs, Airport West is in the TOP 20% of suburbs in Australia with an average of days on market 45.63 for properties listed there.

With the median price for a house in Airport West being $842000 and the advertised rent reaching $400 the gross rental yield for property investors calculates out to be 2.47%

Airport West is in the bottom 30% in VIC when comparing median price capital growth over the last year. Airport West gave property investors a disappointing capital gain figure when compared to the rest of the state, with 1.06%.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Airport West has increased when compared to the 5 year average annual rate.

The most recent median price for Airport West is $572000, with sellers offering an average of -3.86% off the asking price.

In the last year 51 properties changed hands in Airport West, which puts it as the 160th most active market in VIC when comparing the number of sales per suburb.

Renters in Suburb are facing rents around $20800 per annum or $400 every week.

Metrics i HOUSE UNIT
$842,000 $572,000
-1.29% 0.00%
4.60% 1.06%
7.85% 5.32%
$400 $400
116 51
2.47% 3.64%
45.63 60.35

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
Find a mortgage broker in Airport West VIC
Demographics
Total population 6958
Median household income ($/weekly) 1141
Median age of persons 40
Median housing loan repayment ($/monthly) 1863
Average household size 2.4
  • Census Count Percent(%)
    25-34 years 1024 14.7
    35-44 years 1094 15.7
    45-54 years 846 12.2
    55-64 years 767 11.0
    65-74 years 693 10.0
    Others 2534 36.4
    Age Group
    Census Count Percent(%)
    Registered Married 2675 48.2
    Not Married 2471 44.5
    Defacto Relationship 406 7.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 4725 71.3
    Indonesia 129 1.9
    Japan 619 9.3
    United Kingdom 137 2.1
    Other 215 3.2
    Others 803 12.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 128 2.0
    Christianity 5027 77.8
    Hinduism 113 1.7
    Islam 103 1.6
    No Religion 1066 16.5
    Others 21 0.3
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 317 12.5
    $600-$799 248 9.8
    $1,250-$1,499 228 9.0
    $1,500-$1,999 312 12.3
    $2,000-$2,499 244 9.6
    Others 1184 46.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2164 38.7
    Not in the labour force 2145 38.3
    Employed, worked part-time 910 16.3
    Employed, away from work 219 3.9
    Unemployed, looking for work 158 2.8
    Person Characteristics
  • Census Count Percent(%)
    Managers 342 10.4
    Professionals 604 18.3
    Technicians & trades workers 548 16.6
    Clerical & administrative workers 620 18.8
    Sales 339 10.3
    Others 843 25.6
    Occupation
    Census Count Percent(%)
    Pre-school 102 8.3
    Infants/Primary 415 33.9
    Secondary 314 25.6
    Technical or Further Educational Institution 124 10.1
    University or other Tertiary Institutions 210 17.1
    Others 60 4.9
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 5443 81.4
    Flat, unit or apartment 697 10.4
    Semi-detached, row or terrace house, townhouse 544 8.1
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 1265 46.5
    Being purchased 815 30.0
    Rented 627 23.0
    Other tenure type 14 0.5
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals