Suburb Profile Report for Doveton VIC (3177)

Doveton House: Median price $382,000, Annual capital growth 8.52%, Number of sales 176, Weekly median advertised rent $300

Doveton Unit: Median price $318,500, Annual capital growth 5.77%, Number of sales 50, Weekly median advertised rent $310

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Over the last year, property investments in Doveton, 3177 have given investors a capital gain of 13.69%. This compares favourably with the 7.80% for VIC as a whole.

Over the longer term, Doveton has seen property prices show investors a 28.84% return over the last 3 years. This is worse than over the last 12 months

Property investors looking for a bargain in Doveton should be aiming for at least -4.31% off the asking price, which is the average vendor discount being achieved at the moment.

At number 583 in a list of fastest selling suburbs, Doveton is in the TOP 20% of suburbs in Australia with an average of days on market 51.33 for properties listed there.

Doveton, 3177’s gross rental yield is 4.08%

Investment property in Doveton has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 2.74%

Doveton,3177 has offered an average of 2.74% return per annum in house price rises to property investors over the last three years.

The most recent median price for Doveton is $318500, with sellers offering an average of -3.76% off the asking price.

Advertised rents are around the $310 mark per week – giving a return of 5.06% based on the median price in Suburb

Elvira Bafto Information supplied by:

Elvira Bafto
Platinum Real Estate

M 0400 906 556
O (03) 9793 7119

W www.platinumrealty.com.au
E elvira@platinumrealty.com.au
Doveton is a small suburb, located 31km south-east of the Melbourne CBD. An older, established area, it offers growth potential for properties on large blocks as it benefits from improved roads, public transport and general urban sprawl factors.
investors are keen on homes in the area that can be picked up for less than $300,000, which mostly consist of three-bed, one-bath concrete buildings.
The suburb has schools, shops and other local amenities, while also being centrally located and within easy range of amenities in Dandenong and employment opportunities in Hallam.Full summary

Selling points: Doveton spans approximately four square kilometres. It has 12 parks, covering nearly 14% of its area. Being an older established area, purchasers have large land opportunity, with potential multi-unit development (STCA).  The current market trend for occupancy within Doveton is at 31% rental, 29% owned outright, 33% purchasers and 7% other. Currently the median sales price of houses in the area is $285,000, which is a great entry for first home buyers and investors.

Most sought after properties: Three-bed homes with a single bathroom and vehicle accommodation. Homes under $300,000 are generally picked up quite quickly, with $300,000 - $400,000 properties averaging 75 days on the market.

Most common properties: Solid concrete three-bedroom, one-bathroom homes, which were previously a part of the government’s housing commission association.

Top amenities: Doveton is located between the Monash Freeway and Princes Highway and offers a range of local amenities within two to three minutes, such as schools, banks, public transport and shopping centres; making it ideal for investors wanting to secure as property  with great future potential and immediate rental.

Local industry and business: Most residents are either commuters to the city, or work at south-east expanding shopping centres such as Westfield Fountain Gate, Dandenong Plaza and Endeavour Hills Shopping Centre. Doveton borders onto an industrial portion located in Hallam (2.4kms away), which offers plenty of factory positions along with a new Masters’ building products store, which will offer an additional 1400 jobs when it opens soon.

Recent changes: In January of 2012 the city of Casey implemented the Doveton & Eumemmerring Community Plan. Such plans are designed to provide guidance to Local Government with respect to physical and social needs of those living and working in an area as well as to those people who have business interests in the area.

Best streets: Purchasing close to The Autumn Place and Linden Place shopping strips ensures quick return for investment property purchasers, as tenants prefer quick access to local stores and public transport. When looking to purchase as an owner occupant, there are no good or bad areas of Doveton, as it’s a small suburb and everything is close by. The entire suburb offers great potential for future growth, due to its easy access to main freeways and being so central to many larger surrounding suburbs, minus the price tag. Doveton is a diamond in the rough- it just needs a good polish to see its true worth.

Public transport: Bus routes are very frequent due to the joining of Hallam and Dandenong, via Doveton. Bus stops are located every 50 metres on main roads such as Box Street, Power Road and Kinds Road.

Main arteries: Doveton central is located 3km from the Monash Freeway, taking you direct to the Melbourne CBD or Tullamarine Airport. The nearby Princes Highway takes you to the outer south-east or into the city.

 

Close
HOUSE UNIT
$382,000 $318,500
3.24% -0.47%
13.69% 2.74%
8.52% 5.77%
$300 $310
176 50
4.08% 5.06%
51.33 88.76

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
Find a mortgage broker in Doveton VIC
Demographics
Total population 8404
Median household income ($/weekly) 822
Median age of persons 34
Median housing loan repayment ($/monthly) 1300
Average household size 2.8
  • Census Count Percent(%)
    5-14 years 1093 13.0
    25-34 years 1334 15.9
    35-44 years 1107 13.2
    45-54 years 990 11.8
    55-64 years 907 10.8
    Others 2973 35.4
    Age Group
    Census Count Percent(%)
    Not Married 3085 50.8
    Registered Married 2646 43.6
    Defacto Relationship 343 5.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 3762 48.5
    Indonesia 479 6.2
    Sri Lanka 323 4.2
    United Kingdom 297 3.8
    Other 1262 16.3
    Others 1629 21.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 397 5.3
    Christianity 4604 61.4
    Hinduism 327 4.4
    Islam 801 10.7
    No Religion 1217 16.2
    Others 157 2.1
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 283 11.2
    $400-$599 355 14.1
    $600-$799 363 14.4
    $800-$999 306 12.1
    $1,000-$1,249 277 11.0
    Others 935 37.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 2958 48.3
    Employed, worked full-time 1750 28.6
    Employed, worked part-time 848 13.9
    Unemployed, looking for work 344 5.6
    Employed, away from work 218 3.6
    Person Characteristics
  • Census Count Percent(%)
    Technicians & trades workers 529 18.8
    Community & personal service workers 249 8.8
    Clerical & administrative workers 310 11.0
    Machinery operators & drivers 484 17.2
    Labourers 563 20.0
    Others 682 24.2
    Occupation
    Census Count Percent(%)
    Infants/Primary 606 33.9
    Secondary 492 27.6
    Technical or Further Educational Institution 255 14.3
    University or other Tertiary Institutions 190 10.6
    Other type of educational institution 135 7.6
    Others 107 6.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 7249 92.2
    Semi-detached, row or terrace house, townhouse 101 1.3
    Flat, unit or apartment 488 6.2
    Caravan, cabin, houseboat 9 0.1
    Improvised home, tent, sleepers out 6 0.1
    Others 6 0.1
    Dwelling Structure
    Census Count Percent(%)
    Rented 1010 37.7
    Being purchased 876 32.7
    Fully owned 777 29.0
    Other tenure type 18 0.7
    Tenure Type
Census 2011, ABS
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Recent sales & rentals