Suburb Profile Report for Ringwood VIC (3134)

Ringwood House: Median price $830,000, Annual capital growth 10.24%, Number of sales 221, Weekly median advertised rent $400

Ringwood Unit: Median price $535,500, Annual capital growth 8.25%, Number of sales 179, Weekly median advertised rent $350

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Ringwood is in the bottom 20% in VIC when comparing median price capital growth over the last year. Ringwood gave property investors a dismal capital gain figure when compared to the rest of the state, with -0.90%.

Across a shorter period, Ringwood, 3134 has seen a median price increase of 2.60% over the last quarter.

Vendor discounting in Ringwood is giving property investors an average Vendor Discount of around -4.15%. This puts suburb at number 443th in VIC when ranking the most discounted suburbs.

Often selling an investment property can take time, and in Ringwood the average time real estate has been on the market is 57.89 days.

Ringwood is an average performer in VIC when comparing median price capital growth over the last year. Ringwood gave property investors a good capital gain figure when compared to the rest of the state, with 6.78%.

While Ringwood,3134 ranked number 115th in VIC for increase in median house value (annualised) increase, it is ranked 23th over the last 5 years.

Property buyers and investors in Ringwood 3134 should be seeing an average reduction in asking price of around -2.67% . This means that Ringwood is holding prices well when compared to other suburbs in VIC.

Advertised rents are around the $350 mark per week – giving a return of 3.40% based on the median price in Suburb

YIP MAG Information supplied by:

YIP MAG
September 2016

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Pushing out to the far-eastern fringe of Melbourne, Ringwood’s housing market seems to be still full of steam.Full summary
Pushing out to the far-eastern fringe of Melbourne, Ringwood’s housing market seems to be still full of steam.

At $832,500, the median house price is certainly stretching the bounds of affordability, and conditions don’t indicate buyers will find any relief soon.

The past 12 months have seen a 24% jump in the median house price, and it has also grown 55% over the past five years.

Just under 25km from the heart of Melbourne, Ringwood is somewhat of a hub for the city’s far-eastern suburbs.

The suburb is home to the Eastland Shopping Complex, which is currently undergoing extensive remodelling and is the premier retail facility in the area.

Ringwood is also home to a wide range of educational facilities and is connected to the centre of Melbourne and suburbs further out through a number of train stations.
Close
Metrics i HOUSE UNIT
$830,000 $535,500
2.60% 2.98%
-0.90% 6.78%
10.24% 8.25%
$400 $350
221 179
2.51% 3.40%
57.89 52.03

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
Find a mortgage broker in Ringwood VIC
Demographics
Total population 16008
Median household income ($/weekly) 1133
Median age of persons 37
Median housing loan repayment ($/monthly) 1733
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 1691 10.6
    25-34 years 2665 16.6
    35-44 years 2378 14.9
    45-54 years 1854 11.6
    55-64 years 1681 10.5
    Others 5739 35.9
    Age Group
    Census Count Percent(%)
    Registered Married 5565 45.9
    Not Married 5506 45.4
    Defacto Relationship 1047 8.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 10784 69.8
    Croatia 549 3.6
    Indonesia 454 2.9
    United Kingdom 834 5.4
    Other 978 6.3
    Others 1841 11.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 466 3.2
    Christianity 9285 62.9
    Hinduism 314 2.1
    Other Religious Groups 272 1.8
    No Religion 4234 28.7
    Others 183 1.2
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 633 10.8
    $600-$799 557 9.5
    $800-$999 572 9.8
    $1,000-$1,249 553 9.4
    $1,500-$1,999 753 12.8
    Others 2794 47.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 4967 39.0
    Not in the labour force 4531 35.5
    Employed, worked part-time 2389 18.7
    Employed, away from work 436 3.4
    Unemployed, looking for work 427 3.3
    Person Characteristics
  • Census Count Percent(%)
    Managers 890 11.4
    Professionals 1835 23.6
    Technicians & trades workers 1122 14.4
    Community & personal service workers 778 10.0
    Clerical & administrative workers 1306 16.8
    Others 1859 23.9
    Occupation
    Census Count Percent(%)
    Pre-school 289 8.2
    Infants/Primary 1102 31.3
    Secondary 861 24.5
    Technical or Further Educational Institution 409 11.6
    University or other Tertiary Institutions 640 18.2
    Others 218 6.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 11031 73.2
    Semi-detached, row or terrace house, townhouse 3126 20.7
    Flat, unit or apartment 887 5.9
    House or flat attached to a shop, office 24 0.2
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 2211 35.2
    Being purchased 2014 32.1
    Fully owned 2008 32.0
    Other tenure type 49 0.8
    Tenure Type
Census 2011, ABS
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