Suburb Profile Report for Springvale VIC (3171)

Springvale House: Median price $677,000, Annual capital growth 10.32%, Number of sales 168, Weekly median advertised rent $365

Springvale Unit: Median price $430,000, Annual capital growth 8.08%, Number of sales 107, Weekly median advertised rent $330

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

Source: CoreLogic

  • House Report
  • Unit Report

VIC has seen average median house prices change by 7.80% which means that Springvale, 3171 has done well for property investors by showing a capital gain of 15.83% over the last year

Springvale,3171 was ranked 2181 in Australia by increase in median property value over the quarter.

Property investors looking for a bargain in Springvale should be aiming for at least -6.46% off the asking price, which is the average vendor discount being achieved at the moment.

Using the current median advertised rental of $365 and the average annual increase in value of a median property of 10.32%, investors should hope to achieve an overall return of 2.80%

At number 877th in the list of Australian suburbs ordered by increase in median house value over the last year, Springvale, 3171 is in the BOTTOM 50% with a property value increase of 2.87% recorded in median house prices.

Over the longer term, Springvale has seen property prices show investors a 26.47% return over the last 3 years. This is worse than over the last 12 months

Our latest figures would indicate that property sellers in Springvale are currently offering property investors an average price cut of -6.73% below the asking price at the moment.

In the last year 107 properties changed hands in Springvale, which puts it as the 82th most active market in VIC when comparing the number of sales per suburb.

Using the current median advertised rental of $330 and the average annual increase in value of a median property of 8.08%, investors should hope to achieve an overall return of 3.99%

HOUSE UNIT
$677,000 $430,000
0.15% 2.38%
15.83% 2.87%
10.32% 8.08%
$365 $330
168 107
2.80% 3.99%
79.24 111.05

Source: CoreLogic

DSR Score for property investment : Balanced (U), Above average (H)
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Demographics
Total population 19770
Median household income ($/weekly) 884
Median age of persons 34
Median housing loan repayment ($/monthly) 1500
Average household size 2.9
  • Census Count Percent(%)
    5-14 years 2127 10.8
    25-34 years 3746 18.9
    35-44 years 2521 12.8
    45-54 years 2298 11.6
    55-64 years 1932 9.8
    Others 7147 36.1
    Age Group
    Census Count Percent(%)
    Not Married 7775 49.8
    Registered Married 7334 47.0
    Defacto Relationship 507 3.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 5839 31.2
    Canada 1033 5.5
    Indonesia 2075 11.1
    Viet Nam 4183 22.3
    Other 1560 8.3
    Others 4034 21.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 5400 29.4
    Christianity 7401 40.3
    Islam 952 5.2
    Other Religious Groups 1383 7.5
    No Religion 2628 14.3
    Others 620 3.4
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 831 14.6
    $600-$799 747 13.1
    $800-$999 548 9.6
    $1,000-$1,249 648 11.3
    $1,500-$1,999 656 11.5
    Others 2281 39.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 7108 45.7
    Employed, worked full-time 4572 29.4
    Employed, worked part-time 2494 16.0
    Unemployed, looking for work 887 5.7
    Employed, away from work 486 3.1
    Person Characteristics
  • Census Count Percent(%)
    Professionals 870 11.5
    Technicians & trades workers 1214 16.1
    Clerical & administrative workers 780 10.3
    Machinery operators & drivers 1197 15.8
    Labourers 1508 20.0
    Others 1986 26.3
    Occupation
    Census Count Percent(%)
    Infants/Primary 1198 25.5
    Secondary 1191 25.3
    Technical or Further Educational Institution 618 13.2
    University or other Tertiary Institutions 997 21.2
    Other type of educational institution 448 9.5
    Others 247 5.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 14669 77.2
    Flat, unit or apartment 2222 11.7
    Semi-detached, row or terrace house, townhouse 1964 10.3
    Caravan, cabin, houseboat 109 0.6
    House or flat attached to a shop, office 36 0.2
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 2265 37.1
    Fully owned 2248 36.8
    Being purchased 1479 24.2
    Other tenure type 113 1.9
    Tenure Type
Census 2011, ABS
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