Suburb Profile Report for Mount Waverley VIC (3149)

Mount Waverley House: Median price $1,245,000, Annual capital growth 11.44%, Number of sales 456, Weekly median advertised rent $470

Mount Waverley Unit: Median price $800,000, Annual capital growth 7.66%, Number of sales 183, Weekly median advertised rent $440

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

VIC has seen average median house prices change by 7.80% which means that Mount Waverley, 3149 has done well for property investors by showing a capital gain of 3.75% over the last year

Mount Waverley,3149 was ranked 2958 in Australia by increase in median property value over the quarter.

Property investors looking for a bargain in Mount Waverley should be aiming for at least -9.50% off the asking price, which is the average vendor discount being achieved at the moment.

At number 1472 in a list of fastest selling suburbs, Mount Waverley is in the TOP 40% of suburbs in Australia with an average of days on market 70.94 for properties listed there.

Advertised rents are around the $470 mark per week – giving a return of 1.96% based on the median price in Suburb

Over the last year, property investments in Mount Waverley, 3149 have given investors a capital gain of 2.56%. This compares averagely with the 3.63% for VIC as a whole.

The five-year average increase in median property values for Mount Waverley,3149 has given property investors a potential capital gain of 27.24% across each of those five years.

Property buyers and investors in Mount Waverley 3149 should be seeing an average reduction in asking price of around -4.60% . This means that Mount Waverley is holding prices well when compared to other suburbs in VIC.

Mount Waverley is 362th on a list of best yielding suburbs for rents in VIC with a 2.86% return

YIP MAG Information supplied by:

YIP MAG
April 2016

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Despite a softening over the past 12 months, the vacancy rate of Mount Waverley remains rather tight.Full summary Despite a softening over the past 12 months, the vacancy rate of Mount Waverley remains rather tight.

Figures from Real Estate Investar show the vacancy rate in Mount Waverley, which sits in Melbourne’s west, is just 1.49% up from 1.35% compared to 12 months ago.

While the suburb is around a 25-minute drive from the centre of Melbourne, there is plenty on offer within the suburb itself.

Jordanville and Mount Waverley station link the suburb to the rest of Melbourne, while the Monash Freeway offers road access throughout the city.

Within the suburb there are numerous schools, while the nearby shopping opportunities are plentiful at the nearby Chadstone Shopping Centre.

Capital growth has also been strong in the suburb recently, with the median house price sitting at $1,245,000 after 71% growth over the past three years.

Houses in the suburb are currently providing investors with rental yields of 2%.Close
HOUSE UNIT
$1,245,000 $800,000
-1.19% 1.91%
3.75% 2.56%
11.44% 7.66%
$470 $440
456 183
1.96% 2.86%
70.94 64.82

Source: CoreLogic

DSR Score for property investment : Above average (H), Good (U)
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Demographics
Total population 32077
Median household income ($/weekly) 1369
Median age of persons 41
Median housing loan repayment ($/monthly) 2000
Average household size 2.7
  • Census Count Percent(%)
    5-14 years 3675 11.5
    25-34 years 3343 10.4
    35-44 years 4477 14.0
    45-54 years 4513 14.1
    55-64 years 3488 10.9
    Others 12580 39.2
    Age Group
    Census Count Percent(%)
    Registered Married 13955 55.3
    Not Married 10151 40.2
    Defacto Relationship 1133 4.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 18768 60.3
    Croatia 2304 7.4
    Sri Lanka 1198 3.9
    United Kingdom 1042 3.3
    Other 1287 4.1
    Others 6516 20.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 1980 6.6
    Christianity 18382 61.5
    Hinduism 948 3.2
    Islam 331 1.1
    No Religion 7878 26.4
    Others 366 1.2
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 1061 10.1
    $600-$799 946 9.0
    $1,500-$1,999 1230 11.7
    $2,000-$2,499 924 8.8
    $2,500-$2,999 1092 10.4
    Others 5296 50.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 10234 39.3
    Employed, worked full-time 9173 35.3
    Employed, worked part-time 5005 19.2
    Unemployed, looking for work 838 3.2
    Employed, away from work 765 2.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 2067 13.8
    Professionals 4716 31.6
    Technicians & trades workers 1526 10.2
    Clerical & administrative workers 2360 15.8
    Sales 1498 10.0
    Others 2778 18.6
    Occupation
    Census Count Percent(%)
    Pre-school 507 6.0
    Infants/Primary 2377 28.3
    Secondary 2291 27.3
    Technical or Further Educational Institution 724 8.6
    University or other Tertiary Institutions 2231 26.6
    Others 262 3.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 25529 83.1
    Semi-detached, row or terrace house, townhouse 3202 10.4
    Flat, unit or apartment 1965 6.4
    House or flat attached to a shop, office 32 0.1
    Improvised home, tent, sleepers out 3 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 5606 49.0
    Being purchased 3385 29.6
    Rented 2388 20.9
    Other tenure type 60 0.5
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals