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Kensington, VIC 3031

Home » VIC Real Estate Data » Melbourne City, VIC » Kensington, VIC 3031

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 Kensington, VIC 3031 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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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 “Kensington, VIC 3031”

  1. The total adult population (15 years or older) of Kensington 3031 VIC is 9,185, with a median age of 35. Of those, 32.08% are married, 10.51% are divorced or separated, 54.47% are single and 2.92% are widowed.

    The average household size is 2.1 people per dwelling, and the median household monthly income is estimated to be $12,252. The median monthly mortgage repayment for households in this suburb is $2,162 which is 17.65% of their earnings.

    Source: ABS Census Data (2021)

  2. Located in Victoria, the suburb of KENSINGTON 3031 is a host to approximately 6438 households. As observed in Q3 of 2023, the typical house price in this locale stands at an attractive $1,236,896 AUD with median weekly rent going for $649. This establishes an indicative yield of 2.73%.

    KENSINGTON 3031 boasts of an IRSAD score of 1097 out of 1217, signifying an impressive socio-economic stature with access to plenty of economic resources, a higher income bracket and skilled professions. However, investors may need to exercise caution as the area exhibits a relatively high renter to owner ratio of 49%, which whilst could suggest a vibrant rental market, also signifies stiff competition and potential risk factors.

    Adding to its unique profile is the equally balanced unit to houses ratio at 49%. As the suburb harbours an equal number of apartments and houses, it manages to strike a balance between the family-oriented crowd and those looking for compact living alternatives. On the downside, a higher amount of competition among landlords for tenants might come into play.

    Despite its selling points, KENSINGTON 3031 can be seen as quite a challenge when it comes to affordability. The index for housing in this suburb is estimated at a sizeable 40 years — indicative of decreased affordability when factoring in average income, interest rates and property prices.

    From a supply perspective, KENSINGTON 3031 seems to be at an advantage with an array of homes available on the market. The stock on market percentage is low at just 0.1% and an inventory level of 0.34 months corroborates a healthy supply trend. The near non-existent building approvals ratio further contributes to the idea that new constructions aren’t oversaturating the market.

    Also noteworthy for potential buyers and investors is the swift moving market for houses in this area, as highlighted by the average of 24 days on market. As for the vacancy rate, it lays at a desirable 1.23%, indicating a high demand with relatively low supply. However, the buy search index sits at a neutral 3, suggesting a balanced market, neither hot nor cold.

    In conclusion, investors should pay attention to Kensington 3031 as it comes with its share of merits and challenges. The neighborhood offers properties in a higher price bracket, interestingly balanced housing landscape and an optimistic supply percentage. However, decreased affordability and a high renter to owner ratio could potentially impact long term returns. Evaluating these statistics and trends in line with your investment objective is crucial to making a sound decision.

    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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