Suburb Profile Report for Balwyn North VIC (3104)

Balwyn North House: Median price $1,790,000, Annual capital growth 10.66%, Number of sales 278, Weekly median advertised rent $610

Balwyn North Unit: Median price $1,080,000, Annual capital growth 9.16%, Number of sales 60, Weekly median advertised rent $520

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Property value increases in Balwyn North have tracked lower than the VIC average of 8.12% over the last 12 months.

Taking the average capital gain, or increase in median house value, Balwyn North,3104 has racked up an average of -3.24% over the period. This ranks it number 668th in the whole country for real estate investors looking at median house price increases.

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.00% offered to property buyers. Sellers in Balwyn North itself are offering an average vendor discount of -9.91% to real estate investors.

On average over the past year, suburb has had 23.17 sales per month, which equates to 278 per year.

Situated 11.09km from the CBD, Balwyn North is one of Boroondara localities in the postcode 3104.

With a capital gain of -1.82% for the last 12 months, Balwyn North, 3104 has performed for property investments than its average annual 9.16% property growth over the last 5 years.

The five-year average increase in median property values for Balwyn North,3104 has given property investors a potential capital gain of 67.21% across each of those five years.

Sellers are offering property buyers an average discount of -9.88% to buyers in Balwyn North at the moment, which is less than average for the rest of VIC.

Advertised rents are around the $520 mark per week – giving a return of 2.50% based on the median price in Suburb

YIP MAG Information supplied by:

YIP MAG
April 2016

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For investors looking for cash flow positive properties, they should probably avoid Melbourne’s Balwyn North.Full summary For investors looking for cash flow positive properties, they should probably avoid Melbourne’s Balwyn North.

Houses in the suburb, which sits in Melbourne’s north east, are currently only returning rental yields of 2%.

Investors who have already bought into the suburb are unlikely to be worried by those poor returns though, given the excellent price growth seen in the suburb over recent years.

The median house price currently sits at just over $1.8 million. The past 12 months have seen Balwyn North’s median price jump 27%, while over the past three years prices have increased by a spectacular 83%.

While the high median price indicates that affordability is far from its best in Balwyn North, that doesn’t seem to have scared off buyers, with 436 houses sold in the past year.

Houses in Balwyn North are currently spending 73 days on the market.Close
Metrics i HOUSE UNIT
$1,790,000 $1,080,000
2.26% 1.41%
-3.24% -1.82%
10.66% 9.16%
$610 $520
278 60
1.77% 2.50%
84.91 106.7

Source: CoreLogic

DSR Score for property investment : Balanced (U), Above average (H)
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Demographics
Total population 20315
Median household income ($/weekly) 1787
Median age of persons 41
Median housing loan repayment ($/monthly) 2243
Average household size 2.9
  • Census Count Percent(%)
    5-14 years 2878 14.2
    15-19 years 1836 9.0
    35-44 years 2540 12.5
    45-54 years 3443 16.9
    55-64 years 2341 11.5
    Others 7277 35.8
    Age Group
    Census Count Percent(%)
    Registered Married 8763 56.4
    Not Married 6249 40.3
    Defacto Relationship 512 3.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 12738 64.7
    Croatia 1453 7.4
    Malta 641 3.3
    United Kingdom 557 2.8
    Other 803 4.1
    Others 3494 17.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 1094 5.8
    Christianity 11944 62.8
    Hinduism 458 2.4
    Other Religious Groups 214 1.1
    No Religion 4950 26.0
    Others 352 1.9
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 648 10.7
    $2,000-$2,499 533 8.8
    $2,500-$2,999 805 13.3
    $3,000-$3,499 542 9.0
    $4,000 or more 573 9.5
    Others 2932 48.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 6053 37.7
    Employed, worked full-time 5620 35.0
    Employed, worked part-time 3355 20.9
    Employed, away from work 543 3.4
    Unemployed, looking for work 498 3.1
    Person Characteristics
  • Census Count Percent(%)
    Managers 1665 17.5
    Professionals 3356 35.3
    Community & personal service workers 764 8.0
    Clerical & administrative workers 1329 14.0
    Sales 1008 10.6
    Others 1398 14.7
    Occupation
    Census Count Percent(%)
    Pre-school 332 5.4
    Infants/Primary 1804 29.2
    Secondary 2074 33.6
    Technical or Further Educational Institution 308 5.0
    University or other Tertiary Institutions 1498 24.3
    Others 155 2.5
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 17342 89.3
    Semi-detached, row or terrace house, townhouse 1508 7.8
    Flat, unit or apartment 555 2.9
    House or flat attached to a shop, office 24 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 3395 50.6
    Being purchased 2135 31.8
    Rented 1146 17.1
    Other tenure type 35 0.5
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals