Suburb Profile Report for Westmeadows VIC (3049)

Westmeadows House: Median price $515,000, Annual capital growth 7.11%, Number of sales 64, Weekly median advertised rent $355

Westmeadows Unit: Median price $397,500, Annual capital growth 4.20%, Number of sales 41, Weekly median advertised rent $360

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

Source: CoreLogic

  • House Report
  • Unit Report

At number 951th in the list of Australian suburbs ordered by increase in median house value over the last year, Westmeadows, 3049 is in the top 30% with a property value increase of 11.96% recorded in median house prices.

Westmeadows,3049 has offered an average of 11.96% return per annum in house price rises to property investors over the last three years.

Our latest figures would indicate that property sellers in Westmeadows are currently offering property investors an average price cut of -9.14% below the asking price at the moment.

With a capital gain of 3.25% for the last 12 months, Westmeadows, 3049 has performed for property investments than its average annual 4.20% property growth over the last 5 years.

While Westmeadows,3049 ranked number 178th in VIC for increase in median house value (annualised) increase, it is ranked 239th over the last 5 years.

Vendor discounting in Westmeadows is giving property investors an average Vendor Discount of around -6.39%. This puts suburb at number 61th in VIC when ranking the most discounted suburbs.

Advertised rents are around the $360 mark per week – giving a return of 4.71% based on the median price in Suburb

Metrics i HOUSE UNIT
$515,000 $397,500
2.49% 0.63%
11.96% 3.25%
7.11% 4.20%
$355 $360
64 41
3.58% 4.71%
31.81 43.59

Source: CoreLogic

DSR Score for property investment : Good (U), Very good (H)
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Demographics
Total population 5522
Median household income ($/weekly) 1234
Median age of persons 39
Median housing loan repayment ($/monthly) 1600
Average household size 2.7
  • Census Count Percent(%)
    5-14 years 555 10.0
    25-34 years 786 14.2
    35-44 years 709 12.8
    45-54 years 807 14.6
    55-64 years 825 14.9
    Others 1841 33.3
    Age Group
    Census Count Percent(%)
    Registered Married 2065 47.1
    Not Married 2024 46.1
    Defacto Relationship 297 6.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 3856 74.1
    Japan 230 4.4
    Netherlands 82 1.6
    United Kingdom 169 3.2
    Other 205 3.9
    Others 662 12.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 100 2.0
    Christianity 3808 75.4
    Hinduism 20 0.4
    Islam 273 5.4
    No Religion 841 16.7
    Others 7 0.1
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 171 9.7
    $600-$799 170 9.7
    $1,000-$1,249 185 10.5
    $1,500-$1,999 250 14.2
    $2,000-$2,499 181 10.3
    Others 802 45.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1776 40.0
    Not in the labour force 1473 33.2
    Employed, worked part-time 816 18.4
    Employed, away from work 209 4.7
    Unemployed, looking for work 161 3.6
    Person Characteristics
  • Census Count Percent(%)
    Professionals 399 14.3
    Technicians & trades workers 440 15.7
    Community & personal service workers 286 10.2
    Clerical & administrative workers 516 18.4
    Sales 301 10.8
    Others 858 30.6
    Occupation
    Census Count Percent(%)
    Pre-school 59 5.6
    Infants/Primary 325 30.9
    Secondary 332 31.5
    Technical or Further Educational Institution 116 11.0
    University or other Tertiary Institutions 176 16.7
    Others 45 4.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4687 89.0
    Semi-detached, row or terrace house, townhouse 557 10.6
    Flat, unit or apartment 19 0.4
    House or flat attached to a shop, office 5 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 772 40.5
    Fully owned 761 39.9
    Rented 363 19.0
    Other tenure type 11 0.6
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals