Suburb Profile Report for Mount Waverley VIC (3149)

Mount Waverley House: Median price $1,360,000, Annual capital growth 10.71%, Number of sales 443, Weekly median advertised rent $470

Mount Waverley Unit: Median price $837,000, Annual capital growth 7.41%, Number of sales 127, Weekly median advertised rent $435

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

At number 1749th in the list of Australian suburbs ordered by increase in median house value over the last year, Mount Waverley, 3149 is in the top half with a property value increase of 8.80% recorded in median house prices.

Over the longer term, Mount Waverley has seen property prices show investors a 52.30% return over the last 3 years. This is worse than over the last 12 months

Property investors looking for a bargain in Mount Waverley should be aiming for at least -7.26% off the asking price, which is the average vendor discount being achieved at the moment.

In the last year 443 properties changed hands in Mount Waverley, which puts it as the 21th most active market in VIC when comparing the number of sales per suburb.

Mount Waverley is 577th on a list of best yielding suburbs for rents in VIC with a 1.80% return

Property investors who have had real estate in Mount Waverley, 3149 should be relatively unhappy with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 1.27%

When looking at the potential capital gains offered to property investors over the last 3 years, Mount Waverley comes in at number 90th in VIC.

Sellers are offering property buyers an average discount of -4.28% to buyers in Mount Waverley at the moment, which is less than average for the rest of VIC.

A $435 per week rent on the median house gives suburb investors a gross yield of circa 2.70%, without taking into account capital value appreciation, which has been averaging out at 7.41%.

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
Metrics i HOUSE UNIT
$1,360,000 $837,000
3.76% 1.45%
8.80% 1.27%
10.71% 7.41%
$470 $435
443 127
1.80% 2.70%
75.84 59.76

Source: CoreLogic

DSR Score for property investment : Good (H), Very 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