Kennington

POSTAL CODE: VIC, 3550

HOUSE

UNIT

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

The suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $620,000.

The upward trend in home prices in KENNINGTON, 3550 averaged 1.68% per annum over a 3-year period.

Average weekly rents on listings have reached the $507.5 mark, reflecting a 4.26% increase in returns based on the current median price in KENNINGTON.

An average of 11.58 real estate transactions take place per month in KENNINGTON which translates to 139 per annum.

139 properties were sold in KENNINGTON in 2016, making it the 606th most active market in VIC based on total real estate transactions.

KENNINGTON, 3550 places 106th in Australia based on median property value growth during the quarter.

The suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $504,540.

Average median unit prices in VIC have risen as a whole, pulling KENNINGTON, 3550 values up and netting property investors a capital gain of 14.67% for the past year.

Investors saw the median home price rise to $504,540.

The upward trend in home prices in KENNINGTON, 3550 averaged 5.15% per annum over a 3-year period.

KENNINGTON now ranks at the 271st 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 KENNINGTON are low, as opposed to average gains per annum over the past five years.

Real estate investors could earn a rental income of $430 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 KENNINGTON, homes and units usually stay on listing for an average of 55.7 days.

67 properties were sold in KENNINGTON in 2016, making it the 58th most active market in VIC based on total real estate transactions.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$620,000	$504,540
Growth Report
Median Quarterly	4.2%	-1.27%
Median 12 month	7.31%	14.67%
Median 3 years	5.04%	15.46%
Median 5 years	44.35%	44.15%
10 years average annual	6.6%	11.25%
Weekly media advert. rent	$508	$430
Time on Market	62.2 days	55.7 days
Gross Rental Yield Percent	4.26%	4.43%

Demographics (Median Values)*

Total Population 40339

Weekly Household Income 1107

Household Size 2.30

Average Age 39

Monthly Loan Repayment 1300

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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