Suburb Profile Report for Patterson Lakes VIC (3197)

Patterson Lakes House: Median price $810,000, Annual capital growth 6.49%, Number of sales 107, Weekly median advertised rent $530

Patterson Lakes Unit: Median price $470,000, Annual capital growth 4.49%, Number of sales 51, Weekly median advertised rent $395

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

Source: CoreLogic

  • House Report
  • Unit Report

Patterson Lakes has had a pretty average year for property investment returns compared to the rest of VIC, giving investors a capital gain of 8.72% to date .

If we look at median property appreciation over just the last three months, Patterson Lakes has given property investors a paper return of 1.25%. This puts Suburb as 341 on a list of fastest fasting appreciating suburbs in VIC

Vendor discounting in Patterson Lakes is giving property investors an average Vendor Discount of around -4.86%. This puts suburb at number 410th in VIC when ranking the most discounted suburbs.

Renters in Suburb are facing rents around $6360 per annum or $530 every week.

Property investors who have had real estate in Patterson Lakes, 3197 should be ok 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 4.44%

Comparing Patterson Lakes,3197 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

Patterson Lakes, 3197 is offering VIC ‘s 204th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 40% of discounts offered by this VIC.

With the median price for a house in Patterson Lakes being $470000 and the advertised rent reaching $395 the gross rental yield for property investors calculates out to be 4.37%

HOUSE UNIT
$810,000 $470,000
1.25% -1.05%
8.72% 4.44%
6.49% 4.49%
$530 $395
107 51
3.40% 4.37%
65.12 77.6

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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