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Airport West, VIC 3042

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If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Airport West, VIC 3042 located in Melbourne to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

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Rent 

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Yield 

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Buy 

1BR

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Rent 

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Yield 

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Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “Airport West, VIC 3042”

  1. The total adult population (15 years or older) of Airport West 3042 VIC is 6,821, with a median age of 39. Of those, 43.84% are married, 12.99% are divorced or separated, 36.37% are single and 6.76% are widowed.

    The average household size is 2.3 people per dwelling, and the median household monthly income is estimated to be $9,168. The median monthly mortgage repayment for households in this suburb is $2,085 which is 22.74% of their earnings.

    Source: ABS Census Data (2021)

  2. Spanning across the Victorian postcode of 3042, the suburb of Airport West consists of approximately 4846 households, setting the framework for a dynamic property market. As we step into the third quarter of 2023, a snapshot of the real estate landscape exhibits typical house prices at $901,773 and median weekly rent amounting to $471. This equates to an indicative yield of approximately 2.72%; notably under the threshold of 3%, yet noteworthy in its simmering potential.

    The socio-economic fabric of Airport West is woven by constituents enjoying an upper-mid IRSAD score of 1018 out of 1217, signalling a fairly robust social and economic sphere where residents take home moderately high income levels and are part of skilled professions. Peeping into the renter-to-owner ratio signifies a balace of rental and owned properties with 28% being renter-occupied, comfortably under the optimal mark of 30%.

    Furthermore, a close look at the unit-to-house dichotomy reveals a percentage of 23% units to houses – a well balanced market favouring landlords, offering manageable competition for property owners and promising to sustain rental yields. It further hints at the prevalence of longer tenancy periods typical of families residing in houses than units.

    Reflecting upon the Affordability Index, the duration required to completely own a property in this area is estimated to be around 39 years. Although this reflects a degree of restrained affordability, it also signals an appreciating housing market.

    In terms of supply, Airport West houses display well-maintained numbers. With a stock on market Percentage sitting at an attractive 0.37%, there is limited supply in the market which is favourable for sellers and investors. This is further supported by a low inventory level at just 1.19 months, painting a picture of a housing market that’s quick to absorb new listings.

    The building approvals ratio for houses show a favorable 0.96%, indicating a restrained flow of new house stock entering the market, keeping the supply in check.

    Turning the spotlight on demand factors, houses in Airport West do not linger on the market for long, with an average days on market score of just 23 days, well below the high-demand threshold of 35 days. The vacancy rate, combining both houses and units, presents a respectable figure of 1.18%, suggesting that high occupancy rates are the norm here, supported by the buy search index of 4, which sits comfortably in the neutral zone.

    In conclusion, Airport West – with its careful balance between rental and owner-occupied properties, controlled supply, high socio-economic index, and strong demand signals – is a real estate market that offers possibilities to both property investors and home buyers. Whether perusing for capital gains, rental yields or your next family home, staying tuned to evolving market dynamics here in Airport West can guide you towards informed property investment decisions.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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