Suburb Profile Report for Park Orchards VIC (3114)

Park Orchards House: Median price $1,310,000, Annual capital growth 7.74%, Number of sales 26, Weekly median advertised rent N/A

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

Source: CoreLogic

  • House Report
  • Expert Report

Investment property in Park Orchards has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 7.38%

Comparing Park Orchards,3114 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

Property investors looking for a bargain in Park Orchards should be aiming for at least -5.79% off the asking price, which is the average vendor discount being achieved at the moment.

Residents and property investors in Park Orchards have been waiting around 47.47 days to sell a property.

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Nestled 25km east of central Melbourne, Park Orchards is an affluent bushland suburb with a median home price of around $1m. The area is connected to Melbourne via a 17 minute freeway trip into the CBD, or by nearby rail connections in Ringwood.

“The area is mostly family-oriented,” says Caroline Lyons of Philip Webb in nearby Ringwood. “A lot of people like to move into the area for its high-quality primary and secondary schools, public and private.”

Full summary

Nestled 25km east of central Melbourne, Park Orchards is an affluent bushland suburb with a median home price of around $1m. The area is connected to Melbourne via a 17 minute freeway trip into the CBD, or by nearby rail connections in Ringwood. 

“The area is mostly family-oriented,” says Caroline Lyons of Philip Webb in nearby Ringwood. “A lot of people like to move into the area for its high-quality primary and secondary schools, public and private.” 

Lyons adds that the area offers what she calls ‘elite-style living’ with a heavy family focus, including multiple sports clubs and recreation facilities. A primary feature in Park Orchards is The 100 Acres bushland reserve that was conserved from development in the 1970s by concerted community action, and is now home to a wide variety of local indigenous plants, birds and animals including echidnas and sugar gliders. 

With a 10 year average hold period, Lyons says families tend to want to hang onto their perch in what she calls “a lovely area for nature and wildlife that is characterized by its village feel and little cafes”. 

Close
HOUSE UNIT
$1,310,000 N/A
6.07% N/A
7.38% N/A
7.74% N/A
N/A N/A
26 N/A
N/A N/A
47.47 N/A

Source: CoreLogic

DSR Score for property investment : Above average (U), Good (H)
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Demographics
Total population 3717
Median household income ($/weekly) 2329
Median age of persons 41
Median housing loan repayment ($/monthly) 2167
Average household size 3.3
  • Census Count Percent(%)
    5-14 years 628 16.9
    15-19 years 341 9.2
    35-44 years 543 14.6
    45-54 years 646 17.4
    55-64 years 452 12.2
    Others 1107 29.8
    Age Group
    Census Count Percent(%)
    Registered Married 1702 63.0
    Not Married 902 33.4
    Defacto Relationship 99 3.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 2951 82.3
    Japan 63 1.8
    South Africa 39 1.1
    United Kingdom 233 6.5
    Other 57 1.6
    Others 241 6.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 30 0.9
    Christianity 2425 71.0
    Islam 8 0.2
    Other Religious Groups 20 0.6
    No Religion 927 27.1
    Others 6 0.2
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 94 10.0
    $2,000-$2,499 82 8.7
    $2,500-$2,999 135 14.3
    $3,000-$3,499 105 11.1
    $4,000 or more 136 14.4
    Others 390 41.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1098 38.9
    Not in the labour force 847 30.0
    Employed, worked part-time 708 25.1
    Employed, away from work 103 3.6
    Unemployed, looking for work 68 2.4
    Person Characteristics
  • Census Count Percent(%)
    Managers 402 21.0
    Professionals 470 24.6
    Technicians & trades workers 240 12.6
    Clerical & administrative workers 292 15.3
    Sales 212 11.1
    Others 294 15.4
    Occupation
    Census Count Percent(%)
    Pre-school 69 5.9
    Infants/Primary 419 35.8
    Secondary 390 33.4
    Technical or Further Educational Institution 75 6.4
    University or other Tertiary Institutions 193 16.5
    Others 23 2.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3487 99.8
    Semi-detached, row or terrace house, townhouse 7 0.2
    Flat, unit or apartment 0 0.0
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 529 49.1
    Being purchased 508 47.1
    Rented 38 3.5
    Other tenure type 3 0.3
    Tenure Type
Census 2011, ABS
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