Suburb Profile Report for Patterson Lakes VIC (3197)

Patterson Lakes House: Median price $855,000, Annual capital growth 6.55%, Number of sales 116, Weekly median advertised rent $530

Patterson Lakes Unit: Median price $470,000, Annual capital growth 4.52%, Number of sales 60, Weekly median advertised rent $390

  • 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 Patterson Lakes, 3197 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 7.55%.

Patterson Lakes,3197 was ranked 2733 in Australia by increase in median property value over the quarter.

At number 486th of VIC’s most discounted properties, Patterson Lakes is in the TOP 30% of the state/territory when listing in order of most discounted to least.

Residents and property investors in Patterson Lakes have been waiting around 73.09 days to sell a property.

A $530 per week rent on the median house gives suburb investors a gross yield of circa 3.22%, without taking into account capital value appreciation, which has been averaging out at 6.55%.

VIC has seen average median house prices change by 4.83% which means that Patterson Lakes, 3197 has done well for property investors by showing a capital gain of -0.53% over the last year

While Patterson Lakes,3197 ranked number 64th in VIC for increase in median house value (annualised) increase, it is ranked 187th over the last 5 years.

LACK OF BUYER INTEREST may well be the reason that Patterson Lakes is offering property investors an average of -4.95. This rate of discount on properties puts Suburb at number 110th in terms of most discounted suburbs in VIC

Situated 32.38km from the CBD, Patterson Lakes is one of Kingston localities in the postcode 3197.

Metrics i HOUSE UNIT
$855,000 $470,000
0.00% 4.91%
7.55% -0.53%
6.55% 4.52%
$530 $390
116 60
3.22% 4.31%
73.09 59.6

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 7582
Median household income ($/weekly) 1420
Median age of persons 41
Median housing loan repayment ($/monthly) 2000
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 930 12.3
    25-34 years 769 10.1
    35-44 years 1151 15.2
    45-54 years 1205 15.9
    55-64 years 1079 14.2
    Others 2449 32.3
    Age Group
    Census Count Percent(%)
    Registered Married 3044 53.0
    Not Married 2163 37.7
    Defacto Relationship 533 9.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 5259 73.5
    Croatia 83 1.2
    Papua New Guinea 121 1.7
    United Kingdom 475 6.6
    Other 298 4.2
    Others 919 12.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 175 2.5
    Christianity 4861 70.0
    Hinduism 68 1.0
    Islam 100 1.4
    No Religion 1707 24.6
    Others 37 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 247 9.7
    $800-$999 237 9.3
    $1,500-$1,999 309 12.2
    $2,000-$2,499 272 10.7
    $2,500-$2,999 272 10.7
    Others 1203 47.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2560 43.3
    Not in the labour force 1841 31.2
    Employed, worked part-time 1098 18.6
    Employed, away from work 224 3.8
    Unemployed, looking for work 184 3.1
    Person Characteristics
  • Census Count Percent(%)
    Managers 673 17.3
    Professionals 734 18.9
    Technicians & trades workers 586 15.1
    Clerical & administrative workers 678 17.5
    Sales 409 10.5
    Others 802 20.7
    Occupation
    Census Count Percent(%)
    Pre-school 137 8.3
    Infants/Primary 562 34.1
    Secondary 517 31.4
    Technical or Further Educational Institution 151 9.2
    University or other Tertiary Institutions 238 14.4
    Others 44 2.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 5168 72.4
    Semi-detached, row or terrace house, townhouse 1377 19.3
    Flat, unit or apartment 590 8.3
    House or flat attached to a shop, office 3 0.0
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1172 42.9
    Fully owned 1059 38.8
    Rented 442 16.2
    Other tenure type 57 2.1
    Tenure Type
Census 2011, ABS
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