Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $1,135,000.
The upward trend in home prices in SOUTH KINGSVILLE, 3015 averaged 4.98% per annum over a 3-year period.
Average weekly rents on listings have reached the $632.5 mark, reflecting a 2.9% increase in returns based on the current median price in SOUTH KINGSVILLE.
An average of 2.33 real estate transactions take place per month in SOUTH KINGSVILLE which translates to 28 per annum.
28 properties were sold in SOUTH KINGSVILLE in 2016, making it the 366th most active market in VIC based on total real estate transactions.
SOUTH KINGSVILLE, 3015 places 35th in Australia based on median property value growth during the quarter.
The suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $815,000.
Average median unit prices in VIC have risen as a whole, pulling SOUTH KINGSVILLE, 3015 values up and netting property investors a capital gain of 7.95% for the past year.
Investors saw the median home price rise to $815,000.
The upward trend in home prices in SOUTH KINGSVILLE, 3015 averaged 9.28% per annum over a 3-year period.
SOUTH KINGSVILLE now ranks at the 43rd place on a list of fastest growing suburbs in the territory.
Figures from the previous quarter show that capital gains for real estate buyers in SOUTH KINGSVILLE are high, as opposed to average gains per annum over the past five years.
Real estate investors could earn a rental income of $545 based on current median home prices for the suburb.
It is expected for properties to spend some time on the market prior to a successful sale. In SOUTH KINGSVILLE, homes and units usually stay on listing for an average of 86.4 days.
12 properties were sold in SOUTH KINGSVILLE in 2016, making it the 369th most active market in VIC based on total real estate transactions.