Suburb Profile Report for Springvale South VIC (3172)

Springvale South House: Median price $640,500, Annual capital growth 9.33%, Number of sales 103, Weekly median advertised rent $370

Springvale South Unit: Median price $412,000, Annual capital growth 7.15%, Number of sales 47, Weekly median advertised rent $325

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

Source: CoreLogic

  • House Report
  • Unit Report

At number 832th in the list of Australian suburbs ordered by increase in median house value over the last year, Springvale South, 3172 is in the top 20% with a property value increase of 12.37% recorded in median house prices.

Over the longer term, Springvale South has seen property prices show investors a 48.95% 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 South are currently offering property investors an average price cut of -3.77% below the asking price at the moment.

Residents and property investors in Springvale South have been waiting around 85.89 days to sell a property.

With the median price for a house in Springvale South being $640500 and the advertised rent reaching $370 the gross rental yield for property investors calculates out to be 3.00%

Giving property investors a an average capital gain of 3.52% for the last year, Springvale South, 3172 is the 802th highest performer in Australia in this respect.

Springvale South,3172 was ranked 699 in Australia by increase in median property value over the quarter.

The most recent median price for Springvale South is $412000, with sellers offering an average of -6.88% off the asking price.

On average over the past year, suburb has had 3.92 sales per month, which equates to 47 per year.

Advertised rents are around the $325 mark per week – giving a return of 4.10% based on the median price in Suburb

Metrics i HOUSE UNIT
$640,500 $412,000
3.31% 1.23%
12.37% 3.52%
9.33% 7.15%
$370 $325
103 47
3.00% 4.10%
85.89 85.72

Source: CoreLogic

DSR Score for property investment : Balanced (U), Good (H)
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Demographics
Total population 12183
Median household income ($/weekly) 998
Median age of persons 34
Median housing loan repayment ($/monthly) 1517
Average household size 3.1
  • Census Count Percent(%)
    5-14 years 1555 12.8
    25-34 years 1918 15.7
    35-44 years 1638 13.4
    45-54 years 1616 13.3
    55-64 years 1353 11.1
    Others 4103 33.7
    Age Group
    Census Count Percent(%)
    Not Married 4445 48.1
    Registered Married 4403 47.6
    Defacto Relationship 402 4.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 4664 40.5
    Canada 1429 12.4
    Indonesia 496 4.3
    Viet Nam 2228 19.4
    Other 770 6.7
    Others 1916 16.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 4275 37.9
    Christianity 4543 40.3
    Islam 351 3.1
    Other Religious Groups 344 3.0
    No Religion 1579 14.0
    Others 188 1.7
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 404 12.2
    $600-$799 400 12.0
    $800-$999 368 11.1
    $1,000-$1,249 373 11.2
    $1,500-$1,999 421 12.7
    Others 1355 40.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 3877 41.6
    Employed, worked full-time 3150 33.8
    Employed, worked part-time 1450 15.6
    Unemployed, looking for work 494 5.3
    Employed, away from work 350 3.8
    Person Characteristics
  • Census Count Percent(%)
    Professionals 538 10.9
    Technicians & trades workers 756 15.3
    Clerical & administrative workers 582 11.8
    Machinery operators & drivers 723 14.6
    Labourers 986 19.9
    Others 1365 27.6
    Occupation
    Census Count Percent(%)
    Infants/Primary 883 29.5
    Secondary 937 31.3
    Technical or Further Educational Institution 294 9.8
    University or other Tertiary Institutions 536 17.9
    Other type of educational institution 179 6.0
    Others 162 5.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 9814 84.2
    Semi-detached, row or terrace house, townhouse 906 7.8
    Flat, unit or apartment 876 7.5
    Caravan, cabin, houseboat 53 0.5
    House or flat attached to a shop, office 12 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 1403 39.2
    Being purchased 1265 35.3
    Rented 890 24.8
    Other tenure type 25 0.7
    Tenure Type
Census 2011, ABS
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Recent sales & rentals