Suburb Profile Report for Avondale Heights VIC (3034)

Avondale Heights House: Median price $701,000, Annual capital growth 8.59%, Number of sales 140, Weekly median advertised rent $380

Avondale Heights Unit: Median price $454,400, Annual capital growth 4.86%, Number of sales 28, Weekly median advertised rent $373

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

VIC has seen average median house prices change by 7.80% which means that Avondale Heights, 3034 has done well for property investors by showing a capital gain of 12.16% over the last year

While Avondale Heights,3034 ranked number 310th in VIC for increase in median house value (annualised) increase, it is ranked 244th over the last 5 years.

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.04% offered to property buyers. Sellers in Avondale Heights itself are offering an average vendor discount of -5.08% to real estate investors.

At number 590 in a list of fastest selling suburbs, Avondale Heights is in the TOP 20% of suburbs in Australia with an average of days on market 51.49 for properties listed there.

Using the current median advertised rental of $380 and the average annual increase in value of a median property of 8.59%, investors should hope to achieve an overall return of 2.82%

With a capital gain of -5.82% for the last 12 months, Avondale Heights, 3034 has performed for property investments than its average annual 4.86% property growth over the last 5 years.

Over the longer term, Avondale Heights has seen property prices show investors a 0.98% return over the last 3 years. This is worse than over the last 12 months

Avondale Heights3034 is located in VIC which offers an average discount of -5.22% to property investors. Avondale Heights itself is showing figures that indicate -2.92% is the average achievable by property buyers investing in the suburb.

Avondale Heights is 181th on a list of best yielding suburbs for rents in VIC with a 4.26% return

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
$701,000 $454,400
1.59% 0.98%
12.16% -5.82%
8.59% 4.86%
$380 $373
140 28
2.82% 4.26%
51.49 56.71

Source: CoreLogic

DSR Score for property investment : Good (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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