Suburb Profile Report for Avondale Heights VIC (3034)

Avondale Heights House: Median price $690,000, Annual capital growth 8.54%, Number of sales 141, Weekly median advertised rent $380

Avondale Heights Unit: Median price $464,400, Annual capital growth 5.52%, Number of sales 24, Weekly median advertised rent $365

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Over the last year, property investments in Avondale Heights, 3034 have given investors a capital gain of 13.11%. This compares favourably with the 8.13% for VIC as a whole.

Avondale Heights,3034 has offered an average of 13.11% return per annum in house price rises to property investors over the last three years.

Sellers are offering property buyers an average discount of -5.08% to buyers in Avondale Heights at the moment, which is less than average for the rest of VIC.

In the last year 141 properties changed hands in Avondale Heights, which puts it as the 179th most active market in VIC when comparing the number of sales per suburb.

At number 1446th in the list of Australian suburbs ordered by increase in median house value over the last year, Avondale Heights, 3034 is in the BOTTOM 20% with a property value increase of -5.71% recorded in median house prices.

A -9.83% growth in median value for property investors in Avondale Heights,3034 puts this suburb at number 59th in terms of best performing suburbs in VIC

Sellers are offering property buyers an average discount of -2.60% to buyers in Avondale Heights at the moment, which is less than average for the rest of VIC.

Often selling an investment property can take time, and in Avondale Heights the average time real estate has been on the market is 60.91 days.

A $365 per week rent on the median house gives suburb investors a gross yield of circa 4.09%, without taking into account capital value appreciation, which has been averaging out at 5.52%.

YIP MAG Information supplied by:

YIP MAG
December 2015

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Located within 10km from the Melbourne CBD, Avondale Heights has seen property values surge over the past 12 monthsFull summary Located within 10km from the Melbourne CBD, Avondale Heights has seen property values surge over the past 12 months.

Median house values jumped 8.4% to $612,500, according to OnTheHouse.com.au.

Despite its relatively small size of 5sqm, Avondale Heights has a lot of features to entice cash-rich homebuyers.

These include 16 parks, covering nearly a quarter of the area, as well as its proximity to the Maribyrnong River and diverse amenities.

There are also a broad selection of quality schools and transport options in the suburb.

Some pockets even enjoy a good view of the Melbourne CBD.

Avondale Heights offers a range of housing options, from old, renovator-ready 1960s homes to million-dollar homes.

Investors looking to renovate will find a large number of older homes on big blocks.

It’s little surprise then that a growing number of people are moving into the area, which further strengthens the demand for housing.

According to the ABS, there were 10,995 people living in the suburb in 2011.

In general, Avondale Heights residents are professionals and the majority (79%) own their homes.

Among the most popular streets in Avondale Heights are Templewood Crescent, Oakley Drive and Dole Street.Close
HOUSE UNIT
$690,000 $464,400
2.15% 3.78%
13.11% -5.71%
8.54% 5.52%
$380 $365
141 24
2.86% 4.09%
52.16 60.91

Source: CoreLogic

DSR Score for property investment : Above average (U), Good (H)
Find a mortgage broker in Avondale Heights VIC
Demographics
Total population 10989
Median household income ($/weekly) 1100
Median age of persons 43
Median housing loan repayment ($/monthly) 1800
Average household size 2.6
  • Census Count Percent(%)
    25-34 years 1381 12.6
    35-44 years 1472 13.4
    45-54 years 1368 12.4
    55-64 years 1371 12.5
    65-74 years 1391 12.7
    Others 4006 36.5
    Age Group
    Census Count Percent(%)
    Registered Married 4894 55.7
    Not Married 3520 40.0
    Defacto Relationship 379 4.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 5865 55.5
    Hong Kong 287 2.7
    Japan 1266 12.0
    Viet Nam 579 5.5
    Other 625 5.9
    Others 1952 18.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 585 5.6
    Christianity 8043 77.6
    Islam 249 2.4
    Other Religious Groups 122 1.2
    No Religion 1288 12.4
    Others 78 0.8
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 483 13.5
    $600-$799 331 9.3
    $800-$999 316 8.8
    $1,500-$1,999 408 11.4
    $2,000-$2,499 311 8.7
    Others 1728 48.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 4024 44.5
    Employed, worked full-time 3089 34.2
    Employed, worked part-time 1378 15.3
    Employed, away from work 304 3.4
    Unemployed, looking for work 238 2.6
    Person Characteristics
  • Census Count Percent(%)
    Managers 565 11.8
    Professionals 1004 21.0
    Technicians & trades workers 660 13.8
    Clerical & administrative workers 776 16.3
    Sales 513 10.7
    Others 1257 26.3
    Occupation
    Census Count Percent(%)
    Pre-school 127 6.1
    Infants/Primary 653 31.6
    Secondary 570 27.6
    Technical or Further Educational Institution 183 8.9
    University or other Tertiary Institutions 436 21.1
    Others 98 4.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 9373 89.5
    Flat, unit or apartment 579 5.5
    Semi-detached, row or terrace house, townhouse 509 4.9
    House or flat attached to a shop, office 17 0.2
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 2174 56.3
    Being purchased 981 25.4
    Rented 690 17.9
    Other tenure type 15 0.4
    Tenure Type
Census 2011, ABS
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