Suburb Profile Report for Kennington VIC (3550)

Kennington House: Median price $403,000, Annual capital growth 3.69%, Number of sales 96, Weekly median advertised rent $340

Kennington Unit: Median price $266,925, Annual capital growth 13.22%, Number of sales 36, Weekly median advertised rent $290

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

Source: Monthly data update for Nov 2020 as supplied by CoreLogic. Data is reported to the period ending Aug 2020. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

If you compare the increase in value of investment property in Kennington, 3550 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 11.33%.

The five-year average increase in median property values for Kennington,3550 has given property investors a potential capital gain of 22.49% across each of those five years.

Property buyers and investors in Kennington 3550 should be seeing an average reduction in asking price of around -3.47% . This means that Kennington is holding prices well when compared to other suburbs in VIC.

With a capital gain of 0.73% for the last 12 months, Kennington, 3550 has performed for property investments than its average annual 13.22% property growth over the last 5 years.

A 244.42% growth in median value for property investors in Kennington,3550 puts this suburb at number 209th in terms of best performing suburbs in VIC

Property investors looking for a bargain in Kennington should be aiming for at least -7.39% off the asking price, which is the average vendor discount being achieved at the moment.

Advertised rents are around the $290 mark per week – giving a return of 5.65% based on the median price in Suburb

Metrics i HOUSE UNIT
$403,000 $266,925
3.33% 0.25%
11.33% 0.73%
3.69% 13.22%
$340 $290
96 36
4.39% 5.65%
49.1095890410959 57

Source: Monthly data update for Nov 2020 as supplied by CoreLogic. Data is reported to the period ending Aug 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (H), Very good (U)
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Demographics
Total population 5830
Median household income ($/weekly) 990
Median age of persons 40
Median housing loan repayment ($/monthly) 1300
Average household size 2.3
  • Census Count Percent(%)
    20-24 years 641 11.0
    25-34 years 631 10.8
    35-44 years 640 11.0
    45-54 years 726 12.5
    55-64 years 623 10.7
    Others 2569 44.1
    Age Group
    Census Count Percent(%)
    Not Married 2123 50.0
    Registered Married 1807 42.6
    Defacto Relationship 315 7.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 4971 89.0
    Croatia 56 1.0
    Indonesia 44 0.8
    United Kingdom 130 2.3
    Other 100 1.8
    Others 284 5.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 80 1.5
    Christianity 3907 72.6
    Islam 30 0.6
    Other Religious Groups 32 0.6
    No Religion 1307 24.3
    Others 26 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 272 13.0
    $600-$799 260 12.4
    $800-$999 204 9.7
    $1,000-$1,249 210 10.0
    $1,500-$1,999 240 11.4
    Others 912 43.5
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1852 40.1
    Employed, worked full-time 1533 33.2
    Employed, worked part-time 946 20.5
    Employed, away from work 152 3.3
    Unemployed, looking for work 140 3.0
    Person Characteristics
  • Census Count Percent(%)
    Professionals 662 25.2
    Technicians & trades workers 318 12.1
    Community & personal service workers 324 12.3
    Clerical & administrative workers 344 13.1
    Sales 306 11.6
    Others 673 25.6
    Occupation
    Census Count Percent(%)
    Pre-school 80 5.7
    Infants/Primary 377 27.0
    Secondary 360 25.8
    Technical or Further Educational Institution 133 9.5
    University or other Tertiary Institutions 399 28.6
    Others 46 3.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4554 86.7
    Flat, unit or apartment 457 8.7
    Semi-detached, row or terrace house, townhouse 237 4.5
    House or flat attached to a shop, office 4 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 850 37.7
    Rented 835 37.0
    Being purchased 562 24.9
    Other tenure type 9 0.4
    Tenure Type
Census 2011, ABS
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