Kings Park

POSTAL CODE: VIC, 3021
HOUSE

Property investments in KINGS PARK did not fare well against the rest of the country last year, registering a median home price decrease of 5.61%.

Figures from the previous quarter show that capital gains for real estate buyers in the territory are low, as opposed to average gains per annum over the past five years.

Based on its average 5-year and quarterly capital gains KINGS PARK, 3021 saw average growth in the long term.

Real estate investors could earn a rental income of $487.5 based on current median home prices for the suburb.

It is expected, nonetheless, for properties to spend some time on the market prior to a successful sale. homes and units usually stay on listing for an average of 41.9 days.

Besides that, the Australian suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Property investors perceived the median home price rise to $650,000.

KINGS PARK ranks 199th on the list of best yielding suburbs for rental properties in VIC, posting a 3.9% return.

Surburb overview

Kings Park, bearing the postcode 3021, is a suburb located approximately 19 kilometres north-west of Melbourne's Central Business District (CBD).  As of the 2021 census, it has a population of 8,203 residents. 

The suburb has a diverse demographic including young professionals, families, and retirees. Most of the population comprises couples with children, reflecting a family-friendly environment. 

Public transportation in Kings Park is well-developed, offering residents convenient access to various parts of Melbourne. At the same time, the suburb does not have a train station; nearby stations such as St Albans and Keilor Plains service it. Several bus routes, including 418, 420, 424, and 425, pass through or near Kings Park, connecting residents to nearby shopping centres and railway stations. 

Kings Park has various essential establishments, including educational institutions, healthcare facilities, and shopping centres. The suburb boasts a variety of cafes, restaurants, and boutique shops, contributing to a vibrant local economy.  The presence of parks and recreational facilities enhances the quality of life for residents, offering spaces for leisure and community activities. 

Recreational activities are abundant in Kings Park, with numerous parks and green spaces available for public use. The Kings Park Reserve on Gillespie Road offers AFL football, cricket, and lawn bowls facilities.  Additionally, the suburb's proximity to Kororoit Creek provides opportunities for walking, picnicking, and outdoor sports, catering to active individuals seeking to maintain a healthy lifestyle. 

Kings Park's blend of urban convenience and community-oriented living makes it a desirable location for diverse residents. 

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