Suburb Profile Report for Glen Waverley VIC (3150)

Glen Waverley House: Median price $1,204,000, Annual capital growth 11.11%, Number of sales 518, Weekly median advertised rent $470

Glen Waverley Unit: Median price $680,000, Annual capital growth 6.65%, Number of sales 186, Weekly median advertised rent $420

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Property value increases in Glen Waverley have tracked lower than the VIC average of 7.80% over the last 12 months.

While Glen Waverley,3150 ranked number 631th in VIC for increase in median house value (annualised) increase, it is ranked 19th over the last 5 years.

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.04% offered to property buyers. Sellers in Glen Waverley itself are offering an average vendor discount of -8.35% to real estate investors.

Using the current median advertised rental of $470 and the average annual increase in value of a median property of 11.11%, investors should hope to achieve an overall return of 2.03%

Glen Waverley, 3150 ranked 356th in VIC when comparing growth in median property values or capital gain over the last 12 months. Glen Waverley is one of 2098 in our list for VIC

When looking at the potential capital gains offered to property investors over the last 3 years, Glen Waverley comes in at number 89th in VIC.

At number 277th of VIC’s most discounted properties, Glen Waverley is in the TOP 20% of the state/territory when listing in order of most discounted to least.

Residents and property investors in Glen Waverley have been waiting around 85.4 days to sell a property.

Glen Waverley is 325th on a list of best yielding suburbs for rents in VIC with a 3.21% return

YIP MAG Information supplied by:

YIP MAG
April 2016

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The unit market in Glen Waverley, on Melbourne’s eastern fringe, is currently enjoying a period of strength.Full summary The unit market in Glen Waverley, on Melbourne’s eastern fringe, is currently enjoying a period of strength.

The median unit price in Glen Waverley sits at a more than respectable $785,000, having improved by 25% over the past 12 months.

The past three years have also been strong ones for the suburb, with capital growth hitting 56% over that time.

Buyers seem to be taking notice of that performance, with 195 units changing hands in the past year.

It’s understandable why so many people are looking to break into this market. Syndal and Glen Waverley train stations give the suburb a great link to the rest of Melbourne, while there are a number of schools, both primary and secondary, in the suburb.

The Dandenong Valley Parklands on the suburb’s eastern fringe make Glen Waverley a popular choice for those who like some peace and quiet.Close
HOUSE UNIT
$1,204,000 $680,000
-3.68% -11.86%
-0.50% -13.38%
11.11% 6.65%
$470 $420
518 186
2.03% 3.21%
85.44 85.4

Source: CoreLogic

DSR Score for property investment : Above average (U), Above average (H)
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Demographics
Total population 39204
Median household income ($/weekly) 1351
Median age of persons 41
Median housing loan repayment ($/monthly) 2000
Average household size 2.8
  • Census Count Percent(%)
    5-14 years 4651 11.9
    25-34 years 4054 10.3
    35-44 years 5024 12.8
    45-54 years 5797 14.8
    55-64 years 4626 11.8
    Others 15053 38.4
    Age Group
    Census Count Percent(%)
    Registered Married 17002 55.7
    Not Married 12573 41.2
    Defacto Relationship 973 3.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 18455 49.1
    Croatia 4080 10.8
    Indonesia 1775 4.7
    Malta 2027 5.4
    Other 1912 5.1
    Others 9368 24.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 3647 10.1
    Christianity 19202 53.2
    Hinduism 2398 6.6
    Islam 611 1.7
    No Religion 9788 27.1
    Others 481 1.3
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 1137 9.4
    $600-$799 1078 9.0
    $800-$999 1061 8.8
    $1,500-$1,999 1455 12.1
    $2,500-$2,999 1232 10.2
    Others 6080 50.5
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 12943 40.9
    Employed, worked full-time 10902 34.5
    Employed, worked part-time 5700 18.0
    Unemployed, looking for work 1143 3.6
    Employed, away from work 932 2.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 2316 13.2
    Professionals 5555 31.7
    Technicians & trades workers 1749 10.0
    Clerical & administrative workers 2758 15.7
    Sales 1692 9.6
    Others 3466 19.8
    Occupation
    Census Count Percent(%)
    Pre-school 505 4.7
    Infants/Primary 2825 26.5
    Secondary 3274 30.8
    Technical or Further Educational Institution 874 8.2
    University or other Tertiary Institutions 2819 26.5
    Others 348 3.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 30965 83.8
    Semi-detached, row or terrace house, townhouse 4218 11.4
    Flat, unit or apartment 1745 4.7
    House or flat attached to a shop, office 29 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 6468 49.3
    Being purchased 3784 28.8
    Rented 2799 21.3
    Other tenure type 70 0.5
    Tenure Type
Census 2011, ABS
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Recent sales & rentals