Suburb Profile Report for Airport West VIC (3042)

Airport West House: Median price $775,500, Annual capital growth 6.51%, Number of sales 99, Weekly median advertised rent $420

Airport West Unit: Median price $650,000, Annual capital growth 5.84%, Number of sales 51, Weekly median advertised rent $430

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

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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If you compare the increase in value of investment property in Airport West, 3042 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was -8.22%.

Across a shorter period, Airport West, 3042 has seen a median price increase of -0.58% over the last quarter.

LACK OF BUYER INTEREST may well be the reason that Airport West is offering property investors an average of -6.90. This rate of discount on properties puts Suburb at number 318th in terms of most discounted suburbs in VIC

Advertised rents are around the $420 mark per week – giving a return of 2.82% based on the median price in Suburb

VIC has seen average median house prices change by 0.68% which means that Airport West, 3042 has done well for property investors by showing a capital gain of 17.12% over the last year

When looking at the potential capital gains offered to property investors over the last 3 years, Airport West comes in at number 61th in VIC.

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Airport West, 3042. Typically our figures indicate that -6.84% is being offered, which puts this VIC suburb at 442th most discounted overall in Australia.

A $430 per week rent on the median house gives suburb investors a gross yield of circa 3.44%, without taking into account capital value appreciation, which has been averaging out at 5.84%.

Information supplied by:


December 2018

M
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Long-term house market

Postcode: 3042

Median house price: $845,000

Three-year growth: 40.8%

Rental yield: 2.5%

Named for its proximity to the Essendon Airport, the suburb of Airport West has a lot of growth potential.

Since 2013, prices have been on a consistent positive trend, anchored by a very high average annual growth rate. Moreover, houses are selling in just over a month. The rental market is not a hotbed of cash flow, however, so investors need to be ready to buckle down for the long haul.

Airport West is bordered by the Calder Freeway and the Tullamarine Freeway. The local Westfield on Matthews is a convenient tram stop, and there are several bus routes serving the area. Another shopping district can be found on McNamara Avenue. The renowned Silver Circus also makes Airport West its base.

The suburb is home to Niddrie Primary School, Niddrie Campus, St Christopher’s Primary School and Essendon Keilor College.

Metrics i HOUSE UNIT
$775,500 $650,000
-0.58% 4.67%
-8.22% 17.12%
6.51% 5.84%
$420 $430
99 51
2.82% 3.44%
54.7948717948718 83.5945945945946

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (H), Good (U)
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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
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