Suburb Profile Report for Highett VIC (3190)

Highett House: Median price $1,160,000, Annual capital growth 10.13%, Number of sales 123, Weekly median advertised rent $530

Highett Unit: Median price $599,000, Annual capital growth 6.55%, Number of sales 139, Weekly median advertised rent $396

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

Source: CoreLogic

  • House Report
  • Unit Report

Property investors who have had real estate in Highett, 3190 should be pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 16.96%

Highett,3190 was ranked 746 in Australia by increase in median property value over the quarter.

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.91% offered to property buyers. Sellers in Highett itself are offering an average vendor discount of -1.40% to real estate investors.

On average over the past year, suburb has had 10.25 sales per month, which equates to 123 per year.

Using the current median advertised rental of $530 and the average annual increase in value of a median property of 10.13%, investors should hope to achieve an overall return of 2.38%

Highett is an average performer in VIC when comparing median price capital growth over the last year. Highett gave property investors a average capital gain figure when compared to the rest of the state, with 2.39%.

If we look at median property appreciation over just the last three months, Highett has given property investors a paper return of 4.63%. This puts Suburb as 55 on a list of fastest fasting appreciating suburbs in VIC

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.13% offered to property buyers. Sellers in Highett itself are offering an average vendor discount of -5.37% to real estate investors.

Often selling an investment property can take time, and in Highett the average time real estate has been on the market is 78.22 days.

With the median price for a house in Highett being $599000 and the advertised rent reaching $395.5 the gross rental yield for property investors calculates out to be 3.43%

Metrics i HOUSE UNIT
$1,160,000 $599,000
4.50% 4.63%
16.96% 2.39%
10.13% 6.55%
$530 $396
123 139
2.38% 3.43%
60.46 78.22

Source: CoreLogic

DSR Score for property investment : Above average (U), Above average (H)
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Demographics
Total population 10263
Median household income ($/weekly) 1386
Median age of persons 39
Median housing loan repayment ($/monthly) 2167
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 1194 11.6
    25-34 years 1276 12.4
    35-44 years 1857 18.1
    45-54 years 1378 13.4
    55-64 years 1095 10.7
    Others 3463 33.7
    Age Group
    Census Count Percent(%)
    Registered Married 3688 49.1
    Not Married 3144 41.9
    Defacto Relationship 680 9.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 6965 71.5
    Hong Kong 206 2.1
    Papua New Guinea 214 2.2
    United Kingdom 583 6.0
    Other 565 5.8
    Others 1204 12.4
    Country of Birth
    Census Count Percent(%)
    Buddhism 139 1.5
    Christianity 5872 63.1
    Islam 126 1.4
    Judaism 184 2.0
    No Religion 2839 30.5
    Others 151 1.6
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 359 10.1
    $600-$799 314 8.8
    $1,500-$1,999 420 11.8
    $2,000-$2,499 329 9.2
    $2,500-$2,999 398 11.1
    Others 1751 49.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 3201 41.0
    Not in the labour force 2533 32.4
    Employed, worked part-time 1591 20.4
    Employed, away from work 281 3.6
    Unemployed, looking for work 210 2.7
    Person Characteristics
  • Census Count Percent(%)
    Managers 749 14.8
    Professionals 1444 28.5
    Technicians & trades workers 595 11.7
    Clerical & administrative workers 787 15.5
    Sales 511 10.1
    Others 987 19.5
    Occupation
    Census Count Percent(%)
    Pre-school 230 10.5
    Infants/Primary 815 37.2
    Secondary 541 24.7
    Technical or Further Educational Institution 184 8.4
    University or other Tertiary Institutions 362 16.5
    Others 60 2.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 6981 73.1
    Semi-detached, row or terrace house, townhouse 1808 18.9
    Flat, unit or apartment 749 7.8
    House or flat attached to a shop, office 18 0.2
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1521 39.2
    Fully owned 1327 34.2
    Rented 1013 26.1
    Other tenure type 20 0.5
    Tenure Type
Census 2011, ABS
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Recent sales & rentals