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Kensington

POSTAL CODE: VIC, 3031
HOUSE
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Property investments in KENSINGTON did not fare well against the rest of the country last year, registering a median home price decrease of 3.31%.

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

Based on its average 5-year and quarterly capital gains KENSINGTON, 3031 saw average growth in the long term.

Real estate investors could earn a rental income of $700 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 66.1 days.

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

Property investors perceived the median home price rise to $1,125,000.

KENSINGTON ranks 389th on the list of best yielding suburbs for rental properties in VIC, posting a 3.24% return.

Surburb overview

Kensington, located approximately 4 kilometres northwest of Melbourne's Central Business District, is an inner-city suburb known for its villambienceence, diverse architecture, and vibrant community. As of the 2021 Census, it has a population of 10,745 residents. 

The suburb boasts a diverse population, with a significant proportion of residents born overseas. The median age is 34, and households primarily comprise couples with children. This multicultural community contributes to the suburb's dynamic atmosphere. 

Kensington is well-served by public transportation, offering residents convenient access to various parts of Melbourne. Three train stations—Kensington, South Kensington, and Macaulay—provide direct services to the CBD and surrounding areas. Several bus routes operate through the suburb, enhancing connectivity to neighbouring areas. 

Kensington offers a range of amenities catering to residents' daily needs. The suburb features a variety of cafes, restaurants, and shops, particularly around the Kensington Station area, contributing to its village-like shopping hub. Kensington Primary School and other educational institutions provide quality education options for families. Residents can access medical centres near significant hospitals, ensuring comprehensive healthcare services. 

The suburb features several parks and green spaces, providing areas for outdoor activities and community gatherings. Local centres offer programs and activities catering to diverse interests, fostering a strong sense of community. 

Kensington's blend of historical significance, cultural diversity, and modern amenities makes it a desirable location for residents seeking a vibrant urban lifestyle. 

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