Suburb Profile Report for Westmeadows VIC (3049)

Westmeadows House: Median price $512,500, Annual capital growth 6.99%, Number of sales 64, Weekly median advertised rent $350

Westmeadows Unit: Median price $395,500, Annual capital growth 4.40%, Number of sales 38, Weekly median advertised rent $360

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

Source: CoreLogic

  • House Report
  • Unit Report

If you compare the increase in value of investment property in Westmeadows, 3049 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 12.51%.

Westmeadows,3049 has offered an average of 12.51% return per annum in house price rises to property investors over the last three years.

Sellers are offering property buyers an average discount of -9.14% to buyers in Westmeadows at the moment, which is less than average for the rest of VIC.

Using the current median advertised rental of $350 and the average annual increase in value of a median property of 6.99%, investors should hope to achieve an overall return of 3.55%

At number 872th in the list of Australian suburbs ordered by increase in median house value over the last year, Westmeadows, 3049 is in the top half with a property value increase of 2.73% recorded in median house prices.

Comparing Westmeadows,3049 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

At number 31th of VIC’s most discounted properties, Westmeadows is in the bottom 10% of the state/territory when listing in order of most discounted to least.

Metrics i HOUSE UNIT
$512,500 $395,500
2.09% 0.13%
12.51% 2.73%
6.99% 4.40%
$350 $360
64 38
3.55% 4.73%
33.2 45.04

Source: CoreLogic

DSR Score for property investment : Above average (U), 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