Suburb Profile Report for Westmeadows VIC (3049)

Westmeadows House: Median price $499,822, Annual capital growth 6.71%, Number of sales 71, Weekly median advertised rent $340

Westmeadows Unit: Median price $381,000, Annual capital growth 3.73%, Number of sales 36, Weekly median advertised rent $330

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

Source: CoreLogic

  • House Report
  • Unit Report

At number 617th in the list of Australian suburbs ordered by increase in median house value over the last year, Westmeadows, 3049 is in the top 20% with a property value increase of 13.60% recorded in median house prices.

When looking at the potential capital gains offered to property investors over the last 3 years, Westmeadows comes in at number 244th in VIC.

Westmeadows3049 is located in VIC which offers an average discount of -6.04% to property investors. Westmeadows itself is showing figures that indicate -14.48% is the average achievable by property buyers investing in the suburb.

On average over the past year, suburb has had 5.92 sales per month, which equates to 71 per year.

If you compare the increase in value of investment property in Westmeadows, 3049 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was -1.04%.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Westmeadows has increased when compared to the 5 year average annual rate.

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 -6.89% is being offered, which puts this VIC suburb at 288th most discounted overall in Australia.

Residents and property investors in Westmeadows have been waiting around 65.25 days to sell a property.

Westmeadows, 3049’s gross rental yield is 4.50%

HOUSE UNIT
$499,822 $381,000
7.49% -2.93%
13.60% -1.04%
6.71% 3.73%
$340 $330
71 36
3.54% 4.50%
40.7 65.25

Source: CoreLogic

DSR Score for property investment : Good (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