Suburb Profile Report for Dallas VIC (3047)

Dallas House: Median price $375,000, Annual capital growth 7.27%, Number of sales 112, Weekly median advertised rent $330

Dallas Unit: Median price $285,000, Annual capital growth 3.19%, Number of sales 16, Weekly median advertised rent N/A

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Dallas is in the TOP 30% in VIC when comparing median price capital growth over the last year. Dallas gave property investors a good capital gain figure when compared to the rest of the state, with 14.42%.

Dallas,3047 was ranked 524 in Australia by increase in median property value over the quarter.

LACK OF BUYER INTEREST may well be the reason that Dallas is offering property investors an average of -5.71. This rate of discount on properties puts Suburb at number 359th in terms of most discounted suburbs in VIC

Using the current median advertised rental of $330 and the average annual increase in value of a median property of 7.27%, investors should hope to achieve an overall return of 4.58%

VIC has seen average median house prices change by 4.83% which means that Dallas, 3047 has done well for property investors by showing a capital gain of 1.06% over the last year

If we look at median property appreciation over just the last three months, Dallas has given property investors a paper return of 6.34%. This puts Suburb as 43 on a list of fastest fasting appreciating suburbs in VIC

YIP MAG Information supplied by:

YIP MAG
May 2016

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While prices may be relatively elevated close to the Melbourne CBD, suburbs such as Dallas in the city’s north offer something of a reprieve.Full summary While prices may be relatively elevated close to the Melbourne CBD, suburbs such as Dallas in the city’s north offer something of a reprieve.

The current median house price in the suburb, which sits 16km north of the Melbourne CBD, is only $323,000.

However, investors looking to pick up a bargain should do their research as figures show the median has gone backwards over the past five years.

But there may be signs that is turning around, with the past three years having seen capital growth of 17%.

The relatively low prices in Dallas haven’t resulted in properties racing off the market – it takes on average 65 days and a vendor discount of 5% for a sale to occur.

Landlords already in the area are receiving decent returns from the rental market, with yields at around 5%.Close
Metrics i HOUSE UNIT
$375,000 $285,000
6.84% 6.34%
14.42% 1.06%
7.27% 3.19%
$330 N/A
112 16
4.58% N/A
75.21 N/A

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 6479
Median household income ($/weekly) 762
Median age of persons 32
Median housing loan repayment ($/monthly) 1300
Average household size 3.2
  • Census Count Percent(%)
    5-14 years 1040 16.1
    20-24 years 528 8.1
    25-34 years 915 14.1
    35-44 years 841 13.0
    45-54 years 797 12.3
    Others 2358 36.4
    Age Group
    Census Count Percent(%)
    Registered Married 2171 48.7
    Not Married 2166 48.5
    Defacto Relationship 125 2.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 2938 51.1
    Ireland 423 7.4
    Malaysia 233 4.1
    Turkey 890 15.5
    Other 434 7.6
    Others 828 14.4
    Country of Birth
    Census Count Percent(%)
    Buddhism 105 1.8
    Christianity 2235 39.0
    Hinduism 62 1.1
    Islam 2937 51.2
    No Religion 358 6.2
    Others 35 0.6
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 172 10.5
    $400-$599 307 18.7
    $600-$799 234 14.3
    $800-$999 202 12.3
    $1,000-$1,249 166 10.1
    Others 560 34.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 2596 59.1
    Employed, worked full-time 875 19.9
    Employed, worked part-time 493 11.2
    Unemployed, looking for work 286 6.5
    Employed, away from work 142 3.2
    Person Characteristics
  • Census Count Percent(%)
    Technicians & trades workers 249 16.4
    Community & personal service workers 183 12.1
    Clerical & administrative workers 168 11.1
    Machinery operators & drivers 231 15.2
    Labourers 284 18.7
    Others 400 26.4
    Occupation
    Census Count Percent(%)
    Pre-school 92 5.8
    Infants/Primary 575 36.5
    Secondary 453 28.7
    Technical or Further Educational Institution 204 12.9
    University or other Tertiary Institutions 163 10.3
    Others 89 5.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 5417 91.2
    Semi-detached, row or terrace house, townhouse 381 6.4
    Flat, unit or apartment 143 2.4
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 680 38.0
    Being purchased 574 32.1
    Rented 523 29.2
    Other tenure type 12 0.7
    Tenure Type
Census 2011, ABS
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