Suburb Profile Report for Parkville VIC (3052)

Parkville House: Median price $1,675,500, Annual capital growth 11.85%, Number of sales 29, Weekly median advertised rent $445

Parkville Unit: Median price $550,000, Annual capital growth 7.19%, Number of sales 43, Weekly median advertised rent $400

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

Source: CoreLogic

  • House Report
  • Unit Report

At number 172th in the list of Australian suburbs ordered by increase in median house value over the last year, Parkville, 3052 is in the top 10% with a property value increase of 23.15% recorded in median house prices.

When looking at the potential capital gains offered to property investors over the last 3 years, Parkville comes in at number 109th in VIC.

Renters in Suburb are facing rents around $5340 per annum or $445 every week.

Property value increases in Parkville have tracked higher than the VIC average of 3.56% over the last 12 months.

Across a shorter period, Parkville, 3052 has seen a median price increase of 10.00% over the last quarter.

Property investors looking for a bargain in Parkville should be aiming for at least -7.51% off the asking price, which is the average vendor discount being achieved at the moment.

In the last year 43 properties changed hands in Parkville, which puts it as the 203th most active market in VIC when comparing the number of sales per suburb.

Using the current median advertised rental of $400 and the average annual increase in value of a median property of 7.19%, investors should hope to achieve an overall return of 3.78%

HOUSE UNIT
$1,675,500 $550,000
24.09% 10.00%
23.15% 11.22%
11.85% 7.19%
$445 $400
29 43
1.38% 3.78%
N/A 82

Source: CoreLogic

DSR Score for property investment : Above average (H), Good (U)
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Demographics
Total population 6192
Median household income ($/weekly) 1487
Median age of persons 24
Median housing loan repayment ($/monthly) 2100
Average household size 2.3
  • Census Count Percent(%)
    15-19 years 1092 17.6
    20-24 years 1648 26.6
    25-34 years 1146 18.5
    35-44 years 490 7.9
    55-64 years 411 6.6
    Others 1406 22.7
    Age Group
    Census Count Percent(%)
    Not Married 1810 57.3
    Registered Married 992 31.4
    Defacto Relationship 357 11.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 3526 61.2
    Croatia 352 6.1
    Malta 317 5.5
    United Kingdom 244 4.2
    Other 300 5.2
    Others 1025 17.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 307 5.7
    Christianity 2472 45.6
    Hinduism 96 1.8
    Islam 153 2.8
    No Religion 2349 43.3
    Others 47 0.9
    Religious Affiliation
  • Census Count Percent(%)
    $800-$999 116 8.4
    $1,250-$1,499 142 10.3
    $1,500-$1,999 171 12.3
    $2,500-$2,999 157 11.3
    $4,000 or more 116 8.4
    Others 683 49.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 2137 39.4
    Employed, worked full-time 1443 26.6
    Employed, worked part-time 1232 22.7
    Unemployed, looking for work 404 7.5
    Employed, away from work 201 3.7
    Person Characteristics
  • Census Count Percent(%)
    Managers 283 9.8
    Professionals 1212 42.2
    Community & personal service workers 376 13.1
    Clerical & administrative workers 365 12.7
    Sales 245 8.5
    Others 393 13.7
    Occupation
    Census Count Percent(%)
    Infants/Primary 137 4.5
    Secondary 139 4.5
    Technical or Further Educational Institution 66 2.2
    University or other Tertiary Institutions 2627 86.0
    Other type of educational institution 55 1.8
    Others 31 1.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Flat, unit or apartment 1582 44.1
    Semi-detached, row or terrace house, townhouse 1463 40.8
    Separate house 541 15.1
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 899 59.2
    Fully owned 323 21.3
    Being purchased 283 18.6
    Other tenure type 13 0.9
    Tenure Type
Census 2011, ABS
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