Suburb Profile Report for Westmeadows VIC (3049)

Westmeadows House: Median price $502,500, Annual capital growth 6.45%, Number of sales 66, Weekly median advertised rent $350

Westmeadows Unit: Median price $390,000, Annual capital growth 4.02%, Number of sales 37, Weekly median advertised rent $360

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

Source: CoreLogic

  • House Report
  • Unit Report

Property value increases in Westmeadows have tracked just higher than the VIC average of 7.68% over the last 12 months.

The five-year average increase in median property values for Westmeadows,3049 has given property investors a potential capital gain of 25.62% across each of those five years.

Property investors looking for a bargain in Westmeadows should be aiming for at least -1.90% off the asking price, which is the average vendor discount being achieved at the moment.

At number 32 in a list of fastest selling suburbs, Westmeadows is in the TOP 10% of suburbs in Australia with an average of days on market 29.27 for properties listed there.

Property value increases in Westmeadows have tracked close to the VIC average of 3.19% over the last 12 months.

If we look at median property appreciation over just the last three months, Westmeadows has given property investors a paper return of 2.63%. This puts Suburb as 80 on a list of fastest fasting appreciating suburbs in VIC

Westmeadows3049 is located in VIC which offers an average discount of -5.14% to property investors. Westmeadows itself is showing figures that indicate -8.34% is the average achievable by property buyers investing in the suburb.

HOUSE UNIT
$502,500 $390,000
1.02% 2.63%
11.67% 1.30%
6.45% 4.02%
$350 $360
66 37
3.62% 4.80%
29.27 55.09

Source: CoreLogic

DSR Score for property investment : Very good (H), Good (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