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Sunshine, VIC 3020

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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 Sunshine, VIC 3020 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 

2BR

3BR

4BR

5BR

Rent 

2BR

3BR

4BR

5BR

Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

3BR

Yield 

1BR

2BR

3BR

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 “Sunshine, VIC 3020”

  1. The total adult population (15 years or older) of Sunshine 3020 VIC is 7,909, with a median age of 35. Of those, 41.08% are married, 11.81% are divorced or separated, 42.24% are single and 4.84% are widowed.

    The average household size is 2.6 people per dwelling, and the median household monthly income is estimated to be $7,224. The median monthly mortgage repayment for households in this suburb is $1,842 which is 25.50% of their earnings.

    Source: ABS Census Data (2021)

  2. Situated in Victoria, SUNSHINE 3020 is a thriving suburb estimated to house a total of 5469 households. A snapshot of the property market in Q3 2023, reveals typical house prices to be approximately $840,649. With a median weekly rent of $422, the indicative yield hovers around 2.61% which may lie below the minimum threshold of 3% usually preferred by cashflow-centric investors.

    The socio-economic dynamics of this suburb looked at through the IRSAD score stands at 957 out of a total of 1217. This score alludes to the overall economic wellbeing of the population and suggests a relatively favourable socio-economic environment.

    However, the renter to owner ratio is at 40% which might make some long-term investors cautious given the preference for markets with a renter to owner ratio of 30% and below. Nonetheless, this number should be tempered by the fact that the units to houses ratio in the suburb is only at 26%, indicating less competition among landlords for tenants which could potentially lead to maintainable rental yields.

    The affordability of houses in SUNSHINE 3020 might be somewhat of a concern, with the index at 46 years. This is above the standard mortgage period of 30 years and suggests a decreased level of affordability.

    A peek into supply metrics shows that the stock on market percentage for houses remains in a favourable zone at 0.23%, and the inventory level for houses is also low at 1.0 month. This speaks volumes about the relatively low supply in the market which is often good news for homeowners and investors alike. building approvals ratio, however, sits at a low 0.3%, signaling subdued forthcoming supply.

    Meanwhile, the demand side indicators paint a consistent picture. A days on market metric at 54 shows reasonable interest in the suburb. The vacancy rate is relatively low at 1.4%, indicating high occupancy and demand. Yet, the buy search index stands at 3.0, which is on the lower limit, indicating adequate homebuyer interest, but something that investors should keep an eye on.

    Overall, while some numbers may not be ideal, a lot of other factors indicate a potentially favourable investment climate. It’s crucial to remember that the overall Relative Composite Score (RCS) derived from over 80 metrics, including trends, can provide a more comprehensive analysis. Always look out for the RCS to guide your investment decision-making process.

    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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