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Kings Park, VIC 3021

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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 Kings Park, VIC 3021 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

2BR

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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 “Kings Park, VIC 3021”

  1. The total adult population (15 years or older) of Kings Park 3021 VIC is 6,681, with a median age of 38. Of those, 47.96% are married, 13.17% are divorced or separated, 33.47% are single and 5.34% are widowed.

    The average household size is 2.9 people per dwelling, and the median household monthly income is estimated to be $5,284. The median monthly mortgage repayment for households in this suburb is $1,500 which is 28.39% of their earnings.

    Source: ABS Census Data (2021)

  2. Situated in the state of Victoria, the suburb of Kings Park 3021 has an estimated population spanning across 2975 households. As we enter the Q3 of 2023, the typical price point for houses in Kings Park 3021 is currently hovering around $589,104. The median weekly rent sits at a comfortable $376, creating an indicative yield of 3.32%.

    Earning an IRSAD score of 846 out of a possible 1217, the socio-economic landscape of Kings Park showcases promising purchasing power, with residents showing an affinity towards a comfortable lifestyle. The renter to owner ratio sits at a favourable 22%, signifying lower competition and promising long-term returns for property investors.

    In Kings Park, there’s also a low saturation of units with the units to houses ratio being just 4%. This low ratio suggests a distinct preference for houses over units, an aspect beneficial to landlords as it often translates to longer tenancy periods and higher rental yields.

    The affordability index highlights that it would potentially take an occupant 44 years to completely own a property in Kings Park. However, this is based on various factors and could change over time.

    Supply metrics tell an interesting story as well. The stock on market percentage for houses in Kings Park is a low 0.18%, suggesting high buyer demand against the available stock. Furthermore, the inventory level for houses is 1.11 months, showing the market’s keen ability to absorb new listings.

    Interestingly, the building approval ratio for houses is a low 0.15%, suggesting slow development activities and therefore limited new supply in the pipeline. Meanwhile, the average duration of ‘for sale’ listings active on the web is 39 days, indicating a fairly balanced demand for property.

    At a low 0.76%, the vacancy rate for both houses and units combined is indicative of high property demand. The buy search index for houses stands at 3. Despite being on the lower end, it still implies noticeable demand.

    In the Australian property market, it’s not unusual for suburbs like Kings Park to have a few metrics showing unfavourable ranges as long as other metrics are favourable. Many utilise Relative Composite Score (RCS) tools like those by HtAG Analytics to automate this research process using a comprehensive range of over 80 metrics. In doing so, property investors and buyers’ agents are able to make informed decisions, optimised for both long term and short term returns.

    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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