Suburb Profile Report for Dallas VIC (3047)

Dallas House: Median price $346,000, Annual capital growth 6.48%, Number of sales 106, Weekly median advertised rent $320

Dallas Unit: Median price $260,000, Annual capital growth 8.07%, Number of sales 12, 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

Property investors who have had real estate in Dallas, 3047 should be relatively pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 7.62%

Comparing Dallas,3047 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

Property buyers and investors in Dallas 3047 should be seeing an average reduction in asking price of around -5.15% . This means that Dallas is holding prices well when compared to other suburbs in VIC.

Dallas is 149th on a list of best yielding suburbs for rents in VIC with a 4.81% return

At number 1349th in the list of Australian suburbs ordered by increase in median house value over the last year, Dallas, 3047 is in the BOTTOM 30% with a property value increase of -3.70% recorded in median house prices.

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
HOUSE UNIT
$346,000 $260,000
2.98% -3.70%
7.62% -3.70%
6.48% 8.07%
$320 N/A
106 12
4.81% N/A
79.82 N/A

Source: CoreLogic

DSR Score for property investment : Good (H), Above average (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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Recent sales & rentals