Suburb Profile Report for Springvale VIC (3171)

Springvale House: Median price $699,500, Annual capital growth 10.45%, Number of sales 190, Weekly median advertised rent $375

Springvale Unit: Median price $440,000, Annual capital growth 8.09%, Number of sales 78, Weekly median advertised rent $340

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

Source: CoreLogic

  • House Report
  • Unit Report

If you compare the increase in value of investment property in Springvale, 3171 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this VIC suburb was 6.63%.

If we look at median property appreciation over just the last three months, Springvale has given property investors a paper return of 2.57%. This puts Suburb as 296 on a list of fastest fasting appreciating suburbs in VIC

Property investors looking for a bargain in Springvale should be aiming for at least -14.01% off the asking price, which is the average vendor discount being achieved at the moment.

Advertised rents are around the $375 mark per week – giving a return of 2.79% based on the median price in Suburb

Giving property investors a an average capital gain of 4.76% for the last year, Springvale, 3171 is the 706th highest performer in Australia in this respect.

A 29.11% growth in median value for property investors in Springvale,3171 puts this suburb at number 209th in terms of best performing suburbs in VIC

Property buyers and investors in Springvale 3171 should be seeing an average reduction in asking price of around -4.26% . This means that Springvale is holding prices well when compared to other suburbs in VIC.

At number 711 in a list of fastest selling suburbs, Springvale is just in the top half of suburbs in Australia with an average of days on market 74.34 for properties listed there.

A $340 per week rent on the median house gives suburb investors a gross yield of circa 4.02%, without taking into account capital value appreciation, which has been averaging out at 8.09%.

Metrics i HOUSE UNIT
$699,500 $440,000
2.57% 0.00%
6.63% 4.76%
10.45% 8.09%
$375 $340
190 78
2.79% 4.02%
67.48 74.34

Source: CoreLogic

DSR Score for property investment : Above average (H), Good (U)
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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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