Point Cook is a suburban area in Melbourne, Australia. It’s located 21 km southwest of the central business district. This suburb is well-serviced by public transport, with a railway station within walking distance. The average real estate prices in Point Cook is $760,000.
As per recent RBA data, house prices in Melbourne may drop by 1.5%. Moreover, a significant drop of 20% by the end of 2024 may also happen. As a result, this may be the best time to dive into real estate in Point Cook.
But before investing in a home in Point Cook, you may want to check out the price range and ROI on the property. This article will help you select the best real estate option for your family in Point Cook. It can also assist you in finding out about the expected growth in property returns in the area.
So, let’s get started.
Real estate options in Point Cook
Point Cook has properties ranging from one-story to double-story for families, couples, and working renters. Most of the houses are newly constructed or are about two decades old. The real estate prices Point Cook for a four-bedder may start from $720,000.
For a three bedder, the cost starts from $685,000. The investors enjoy a steady rental yield of 4% on average. Moreover, more substantial growth is expected in the upcoming decades. So there’s no reason to skip investing in this suburb, considering such affordable homes.
As per the real estate features, most homes are low maintenance and energy efficient. Even the old homes come with new amenities and are equally appealing to both buyers and renters.
With a starting price of $549,000, townhouses are another significant investment as they are easy to manage and accessible from all major city areas. They are a fantastic choice for new couples, downsizers, or real estate investment businesses.
Is Point Cook a good suburb?
Point Cook has a range of shopping facilities, including a large supermarket and multiple retail centres. The suburb also has a number of schools and sporting and social clubs. Moreover, the suburban area is an excellent attraction for couples, families, and retirees.
If you’re on the hunt for a place to call home, Point Cook may be the perfect location. With its numerous neighbourhoods and plenty of amenities, there’s sure to be a neighbourhood that fits your needs.
Point Cook is close to three railway stations, Aircraft, Williams Landing and Hoppers Crossing, for easy commute. It also has a good bus route network connecting all the areas.
Some of the best schools are Stella Maris Catholic Primary School and St Mary Cross Catholic Primary School. If your kids are studying in Point Cook, you may want to invest in a home there to reduce the commute distance every day.
Point Cook has everything if you’re looking for a family-friendly neighbourhood or an area with plenty of shopping and dining options. Overall, it’s a thriving suburb less than 30kms from Melbourne’s CBD.
Is Point Cook an excellent place to invest?
If you’re looking for a place to invest your money, Point Cook may be a good option. The community is growing rapidly, and the economy is stable. There are also several affordable homes available in Point Cook, which makes it an attractive place to live as well as invest.
The average house rent in the area is $430 PW, with a yield of 3.1% per year. Moreover, the compound growth rate is at 8.3% for houses. The unit’s rent is $365 PW with an annular yield of 4%. This has a compound growth rate of 2.2% as per a five-year sale record.
The rental return on the properties for sale in Point Cook is promising and makes up 30% of homes rented to families. Therefore, Point Cook is safe for investing on a long-term basis with a steady return. A mortgage calculator may help you determine the mortgage and possible profits in the upcoming years.
What is the population of Point Cook?
The population is 66,781 as per the 2021 census. Point Cook’s population has grown in the past two decades from 1737 in 2001 to 60,105 in 2018.
What is Point Cook famous for?
Point Cook is most famous for the Point Cook RAAF Museum. It’s known to be the origin of RAAF Base Point Cook. This was the beginning of the Royal Australian Air Force. Besides, military and civil aviation are essential to the city.
Other attractions are parks/public spaces and sports clubs. Point Cook has more than 130 special stores, such as Aldi, Target, Reject shop, Coles, and Woolworths. Residents enjoy multicultural eateries, pubs, and takeaways. One of the most popular shopping centres is owned by Stockland and has everything you need under one roof.
Tourists often visit the Point Cook Homestead and Point Cook Coastal Park. Families may also enjoy visiting the Werribee Open Range Zoo and Werribee Park Mansion.
Is Point Cook a rich area?
Point Cook is a prosperous suburb of Melbourne, Australia. The area has a median house price of $800,000 and a median household income of $2,047 per week. As per the five-year data, the median real estate prices Point Cook for units is $495,000. This puts houses for sale Point Cook in huge demand.
The total value of home sales in Point Cook is a staggering $581 million, placing it at the sixth-highest in Melbourne for the period. Nine hundred seventy-two real estate prices in Point Cook were valued at $581,836,407. It’s a safe home to many affluent families who enjoy its peaceful atmosphere and quality of life.
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