Suburb Profile Report for Glen Iris VIC (3146)

Glen Iris House: Median price $1,850,000, Annual capital growth 10.18%, Number of sales 283, Weekly median advertised rent $700

Glen Iris Unit: Median price $556,350, Annual capital growth 4.90%, Number of sales 189, Weekly median advertised rent $390

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

At number 1286th in the list of Australian suburbs ordered by increase in median house value over the last year, Glen Iris, 3146 is in the top 40% with a property value increase of 8.50% recorded in median house prices.

Comparing Glen Iris,3146 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

Sellers are offering property buyers an average discount of -5.86% to buyers in Glen Iris at the moment, which is less than average for the rest of VIC.

In the last year 283 properties changed hands in Glen Iris, which puts it as the 65th most active market in VIC when comparing the number of sales per suburb.

With the median price for a house in Glen Iris being $1850000 and the advertised rent reaching $700 the gross rental yield for property investors calculates out to be 1.97%

Property value increases in Glen Iris have tracked close to the VIC average of 3.63% over the last 12 months.

The five-year average increase in median property values for Glen Iris,3146 has given property investors a potential capital gain of -2.48% across each of those five years.

Vendor discounting in Glen Iris is giving property investors an average Vendor Discount of around -5.54%. This puts suburb at number 123th in VIC when ranking the most discounted suburbs.

In the last year 189 properties changed hands in Glen Iris, which puts it as the 37th most active market in VIC when comparing the number of sales per suburb.

Michael Yardney Information supplied by:

Michael Yardney
Metropole Property Strategists

M 9591 8888
O 0419 800 900

W http://www.metropole.com.au/
E myardney@metropole.com.au
An easy 10 kilometres from Melbourne's CBD Glen Iris is a leafy suburb rich in history, schools, parks and family-friendly real estate.

Part of the City or Stonnington’s Glen Iris in well known for its shopping and lifestyle precincts, parks, gardens, leafy streets, historical architecture and the Gardiners Creek waterway hemmed by lush reserves and parklands.

It borders the suburbs of Camberwell, Ashburton, Malvern and Toorak, Glen Iris is popular with professionals, families and retirees and is in the demographic centre of Melbourne.Full summary
Selling points:
 
An easy 10 kilometres from Melbourne's CBD Glen Iris is a leafy suburb rich in history, schools, parks and family-friendly real estate.
 
Part of the City or Stonnington’s Glen Iris in well known for its shopping and lifestyle precincts, parks, gardens, leafy streets, historical architecture and the Gardiners Creek waterway hemmed by lush reserves and parklands.
 
It borders the suburbs of Camberwell, Ashburton, Malvern and Toorak, Glen Iris is popular with professionals, families and retirees and is in the demographic centre of Melbourne.
 
Most sought after properties: Post war homes, art deco apartments and town houses and in more recent year’s contemporary family residence & apartments
 
Most common properties:  Glen Iris gets its unique character from the fact that it was developed from farmlands and pastures, and so retains its spacious 'garden suburb' vibe, but there is a mixture of Art deco apartments, 50’s & 60’s brick homes and streets filled with 60’s and 70’s apartment blocks.
 
Top amenities: Council provides numerous services and facilities including libraries, swim centres, sports grounds catering for the 50% of the residents under the age of 35. 
 
Local industry and business: There has been strong growth in the local retail sector and the area enjoys a variety of services including health care, sport & leisure, a wealth of shopping options etc. 
 
Recent changes: The suburb of Glen Iris has seen an influx of housing developments which were aimed at improving the dynamic and character of changing times. With the introduction of new and retention of old there is a good sense of proud community amongst home owners.  
 
Best streets: Summerhill Road, Toorak Road, Ventich Street, Bath Road, Hope Street and Gardiner Parade just to name a few
 
Public transport: A healthy selection of trams, buses and trains servicing the immediate area, all within short walking distance via the main arteries. 
 
Main arteries: Malvern Rd,  Toorak Road, Burke Road, Warrigal Road and High Street
 
Close
HOUSE UNIT
$1,850,000 $556,350
1.98% -1.31%
8.50% 2.84%
10.18% 4.90%
$700 $390
283 189
1.97% 3.65%
55.7 64.22

Source: CoreLogic

DSR Score for property investment : Above average (U), Above average (H)
Find a mortgage broker in Glen Iris VIC
Demographics
Total population 24948
Median household income ($/weekly) 1965
Median age of persons 37
Median housing loan repayment ($/monthly) 2383
Average household size 2.6
  • Census Count Percent(%)
    5-14 years 3172 12.7
    25-34 years 3551 14.2
    35-44 years 3650 14.6
    45-54 years 3535 14.2
    55-64 years 2815 11.3
    Others 8226 33.0
    Age Group
    Census Count Percent(%)
    Registered Married 9674 52.3
    Not Married 7569 40.9
    Defacto Relationship 1269 6.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 17714 74.0
    Croatia 634 2.6
    Indonesia 723 3.0
    United Kingdom 973 4.1
    Other 831 3.5
    Others 3050 12.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 558 2.4
    Christianity 14155 61.7
    Hinduism 686 3.0
    Judaism 577 2.5
    No Religion 6671 29.1
    Others 312 1.4
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 921 11.3
    $2,000-$2,499 658 8.1
    $2,500-$2,999 1250 15.4
    $3,000-$3,499 804 9.9
    $4,000 or more 877 10.8
    Others 3629 44.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 8272 42.8
    Not in the labour force 5631 29.1
    Employed, worked part-time 4244 21.9
    Employed, away from work 615 3.2
    Unemployed, looking for work 575 3.0
    Person Characteristics
  • Census Count Percent(%)
    Managers 2433 18.5
    Professionals 4988 38.0
    Community & personal service workers 966 7.4
    Clerical & administrative workers 1920 14.6
    Sales 1160 8.8
    Others 1659 12.6
    Occupation
    Census Count Percent(%)
    Pre-school 565 8.3
    Infants/Primary 2173 31.9
    Secondary 1687 24.8
    Technical or Further Educational Institution 362 5.3
    University or other Tertiary Institutions 1850 27.1
    Others 179 2.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 16493 70.6
    Flat, unit or apartment 4313 18.5
    Semi-detached, row or terrace house, townhouse 2539 10.9
    House or flat attached to a shop, office 30 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 3464 38.8
    Being purchased 2973 33.3
    Rented 2416 27.1
    Other tenure type 64 0.7
    Tenure Type
Census 2011, ABS
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Recent sales & rentals