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Keilor Park suburb profile

Keilor Park is a suburban gem located approximately 17km northwest of Melbourne's CBD, offering a peaceful residential setting with convenient access to urban amenities. Known for its spacious parks and recreational facilities, the suburb provides a family-friendly environment with a strong sense of community. Keilor Park is well-connected by major roads and public transport, making commuting to the city and surrounding areas straightforward. The area features a mix of established homes and modern developments, catering to a diverse range of residents. Its proximity to Melbourne Airport adds to its appeal for frequent travelers and professionals.

Keilor Park property market performance

Property growth+5.9%Past 12 months

Keilor Park’s property market has shown significant growth in the house sector over the past 12 months, with house values increasing by 14.1%. The current median house price stands at $987,500. However, the unit market remains stagnant, with no change in median unit value and limited sales activity.

Over the past three months, 12 houses have been sold, with properties spending a median of 50 days on the market. The unit market has seen minimal activity, with only one unit sold and no median days on market recorded, indicating a lack of demand or supply in this segment.

The rental market for houses in Keilor Park has experienced moderate growth, with average rent increasing by 5.5% over the last 12 months to $580. The unit rental market remains inactive, reflecting the overall lack of movement in this property type.

HousesUnits
Median price
Past 3 months
$950KN/A
Change in value
Past 12 months
15.0%N/A
Sold
Past 3 months
131
Median days on market
Past 12 months
55N/A
Average rent
Past 12 months
$590N/A
Change in rent
Past 12 months
5.4%N/A

5 year median price trend for houses and units

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Keilor Park demographics

Keilor Park, located in Melbourne's north-west, is a suburb that offers a tranquil residential environment with a strong sense of community. With a population of 2,684, it is a relatively small suburb, which contributes to its close-knit community feel. The median age of 44 suggests that Keilor Park is home to a mature population, with many long-term residents who appreciate the suburb's peaceful atmosphere and convenient access to both urban amenities and natural surroundings.

The suburb's housing market is characterized by a high rate of home ownership, with 50.4% of properties owned outright and 32.5% owned with a mortgage. This indicates a stable community with a significant number of residents who have invested in their homes for the long term. The rental market is relatively small, with only 17.1% of properties being rented, which may appeal to those seeking a more settled and less transient neighborhood.

Family life is a prominent feature of Keilor Park, with 43.5% of households being couple families with children and 36.3% being couple families without children. The presence of one-parent families, making up 17.6% of the community, adds to the suburb's diverse family dynamics. The median total household income of $1,468 per week reflects a comfortable standard of living, making Keilor Park an attractive option for families and individuals seeking a suburban lifestyle with easy access to Melbourne's city center and surrounding areas.

Suburbs near Keilor Park

Some popular suburbs near Keilor Park include:

  • Keilor: Known for its historical charm and expansive parklands, Keilor is located to the northwest of Keilor Park.
  • Keilor East: Featuring a mix of residential and commercial areas with excellent schools, Keilor East is situated to the southeast of Keilor Park.
  • Airport West: Known for its shopping centers and proximity to the airport, Airport West lies directly east of Keilor Park.
  • Tullamarine: Famous for housing Melbourne's main airport, Tullamarine is located to the northeast of Keilor Park.
  • Kealba: Offering a quiet residential atmosphere with easy access to major roads, Kealba is situated to the southwest of Keilor Park.

How does Keilor Park compare to nearby suburbs?

  • Median house prices: Keilor Park’s median house price is 15.4% higher than Tullamarine’s.
  • House price growth: Over the past 12 months, house prices in Keilor Park have grown 11.0% higher than in Keilor.
  • Unit price growth: Property prices in nearby Keilor East have risen 62.2% more than in Keilor Park over the past year.
  • Selling speed for houses: Properties in nearby Keilor are selling 30.9% faster than in Keilor Park.
  • Investment considerations: In Keilor Park, the rental yield for house is 6.3% lower than the Melbourne average, while the rental yield for units is 11.9% lower.
  • House price growth: Over the past 12 months, house prices in Keilor Park have grown 10.4% lower than the average rate of growth across Melbourne.
  • Unit price growth:Over the past 12 months, unit prices in Keilor Park have grown 20.2% lower than the average rate of growth for units across Melbourne.

Choose the right real estate agents in Keilor Park

Choosing the right real estate agent in Keilor Park can have a big impact on your sale. While there are 26 real estate agents working in the suburb, but just 5 of them were responsible for 43.5% of all property sales over the past year, showing a strong footprint and track record in the area.

Commission rates typically range from 1.54% to 2.94%, depending on the agent and what’s included. Comparing both performance and fee structures can help you find someone who's well-suited to your needs, and set them up for a successful result.

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