Suburb Profile Report for Westmeadows VIC (3049)

Westmeadows House: Median price $501,000, Annual capital growth 6.78%, Number of sales 64, Weekly median advertised rent $350

Westmeadows Unit: Median price $395,000, Annual capital growth 4.21%, Number of sales 35, Weekly median advertised rent $360

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

Source: CoreLogic

  • House Report
  • Unit Report

Westmeadows, 3049 ranked 293th in VIC when comparing growth in median property values or capital gain over the last 12 months. Westmeadows is one of 2098 in our list for VIC

Over the longer term, Westmeadows has seen property prices show investors a 28.46% return over the last 3 years. This is worse than over the last 12 months

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Westmeadows, 3049. Typically our figures indicate that -1.90% is being offered, which puts this VIC suburb at 3723th most discounted overall in Australia.

At number 27 in a list of fastest selling suburbs, Westmeadows is in the TOP 10% of suburbs in Australia with an average of days on market 27.05 for properties listed there.

Westmeadows is an average performer in VIC when comparing median price capital growth over the last year. Westmeadows gave property investors a average capital gain figure when compared to the rest of the state, with 2.60%.

When looking at the potential capital gains offered to property investors over the last 3 years, Westmeadows comes in at number 301th in VIC.

At number 33th of VIC’s most discounted properties, Westmeadows is in the bottom 20% of the state/territory when listing in order of most discounted to least.

Metrics i HOUSE UNIT
$501,000 $395,000
0.20% 1.28%
9.99% 2.60%
6.78% 4.21%
$350 $360
64 35
3.63% 4.74%
27.05 58.55

Source: CoreLogic

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