Suburb Profile Report for Patterson Lakes VIC (3197)

Patterson Lakes House: Median price $813,500, Annual capital growth 6.22%, Number of sales 105, Weekly median advertised rent $540

Patterson Lakes Unit: Median price $454,000, Annual capital growth 3.89%, Number of sales 50, Weekly median advertised rent $390

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

Source: CoreLogic

  • House Report
  • Unit Report

Patterson Lakes is an average performer in VIC when comparing median price capital growth over the last year. Patterson Lakes gave property investors a average capital gain figure when compared to the rest of the state, with 7.89%.

The five-year average increase in median property values for Patterson Lakes,3197 has given property investors a potential capital gain of 37.88% across each of those five years.

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.04% offered to property buyers. Sellers in Patterson Lakes itself are offering an average vendor discount of -5.59% to real estate investors.

Using the current median advertised rental of $540 and the average annual increase in value of a median property of 6.22%, investors should hope to achieve an overall return of 3.45%

Patterson Lakes has had a quite poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -1.04% to date .

The five-year average increase in median property values for Patterson Lakes,3197 has given property investors a potential capital gain of 10.19% across each of those five years.

Property investors looking for a bargain in Patterson Lakes should be aiming for at least -4.22% off the asking price, which is the average vendor discount being achieved at the moment.

On average over the past year, suburb has had 4.17 sales per month, which equates to 50 per year.

Situated 31.68km from the CBD, Patterson Lakes is one of Kingston localities in the postcode 3197.

HOUSE UNIT
$813,500 $454,000
-0.49% -3.40%
7.89% -1.04%
6.22% 3.89%
$540 $390
105 50
3.45% 4.47%
71.35 70.57

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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