Suburb Profile Report for Grovedale VIC (3216)

Grovedale House: Median price $385,000, Annual capital growth 4.26%, Number of sales 215, Weekly median advertised rent $350

Grovedale Unit: Median price $272,500, Annual capital growth 2.07%, Number of sales 45, Weekly median advertised rent $300

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

Source: CoreLogic

  • House Report
  • Unit Report

Property value increases in Grovedale have tracked just lower than the VIC average of 7.80% over the last 12 months.

A 13.57% growth in median value for property investors in Grovedale,3216 puts this suburb at number 214th in terms of best performing suburbs in VIC

Vendor discounting in Grovedale is giving property investors an average Vendor Discount of around -5.30%. This puts suburb at number 348th in VIC when ranking the most discounted suburbs.

Grovedale is 160th on a list of best yielding suburbs for rents in VIC with a 4.73% return

At number 1281th in the list of Australian suburbs ordered by increase in median house value over the last year, Grovedale, 3216 is in the BOTTOM 30% with a property value increase of -2.68% recorded in median house prices.

Comparing Grovedale,3216 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

LACK OF BUYER INTEREST may well be the reason that Grovedale is offering property investors an average of -5.22. This rate of discount on properties puts Suburb at number 97th in terms of most discounted suburbs in VIC

Often selling an investment property can take time, and in Grovedale the average time real estate has been on the market is 65.26 days.

Grovedale is 26th on a list of best yielding suburbs for rents in VIC with a 5.72% return

HOUSE UNIT
$385,000 $272,500
2.67% -2.85%
4.76% -2.68%
4.26% 2.07%
$350 $300
215 45
4.73% 5.72%
51.68 65.26

Source: CoreLogic

DSR Score for property investment : Good (U), Very good (H)
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Demographics
Total population 14153
Median household income ($/weekly) 1133
Median age of persons 38
Median housing loan repayment ($/monthly) 1517
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 1706 12.1
    25-34 years 2010 14.2
    35-44 years 1797 12.7
    45-54 years 1751 12.4
    55-64 years 1714 12.1
    Others 5174 36.6
    Age Group
    Census Count Percent(%)
    Registered Married 5436 51.9
    Not Married 4136 39.5
    Defacto Relationship 894 8.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 11811 86.5
    New Zealand 98 0.7
    Papua New Guinea 132 1.0
    United Kingdom 682 5.0
    Other 226 1.7
    Others 703 5.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 91 0.7
    Christianity 9276 71.0
    Hinduism 77 0.6
    Islam 61 0.5
    No Religion 3498 26.8
    Others 64 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 570 11.8
    $600-$799 528 11.0
    $1,000-$1,249 500 10.4
    $1,500-$1,999 658 13.7
    $2,000-$2,499 528 11.0
    Others 2027 42.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 4121 36.8
    Employed, worked full-time 3978 35.5
    Employed, worked part-time 2354 21.0
    Employed, away from work 437 3.9
    Unemployed, looking for work 316 2.8
    Person Characteristics
  • Census Count Percent(%)
    Professionals 1183 17.5
    Technicians & trades workers 1162 17.2
    Community & personal service workers 866 12.8
    Clerical & administrative workers 926 13.7
    Sales 818 12.1
    Others 1812 26.8
    Occupation
    Census Count Percent(%)
    Pre-school 209 6.4
    Infants/Primary 1118 34.3
    Secondary 896 27.5
    Technical or Further Educational Institution 364 11.2
    University or other Tertiary Institutions 538 16.5
    Others 135 4.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 12072 91.5
    Flat, unit or apartment 605 4.6
    Semi-detached, row or terrace house, townhouse 519 3.9
    House or flat attached to a shop, office 4 0.0
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 2088 40.4
    Fully owned 1848 35.7
    Rented 1139 22.0
    Other tenure type 95 1.8
    Tenure Type
Census 2011, ABS
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