Suburb Profile Report for Grovedale VIC (3216)

Grovedale House: Median price $396,500, Annual capital growth 4.57%, Number of sales 213, Weekly median advertised rent $360

Grovedale Unit: Median price $302,500, Annual capital growth 3.11%, Number of sales 40, Weekly median advertised rent $300

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

Source: CoreLogic

  • House Report
  • Unit Report

With a capital gain of 7.16% for the last 12 months, Grovedale, 3216 has performed for property investments than its average annual 4.57% property growth over the last 5 years.

When looking at the potential capital gains offered to property investors over the last 3 years, Grovedale comes in at number 476th in VIC.

At number 349th of VIC’s most discounted properties, Grovedale is in the middle of the state/territory when listing in order of most discounted to least.

A $360 per week rent on the median house gives suburb investors a gross yield of circa 4.72%, without taking into account capital value appreciation, which has been averaging out at 4.57%.

Grovedale, 3216 ranked 70th in VIC when comparing growth in median property values or capital gain over the last 12 months. Grovedale is one of 2098 in our list for VIC

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

The most recent median price for Grovedale is $302500, with sellers offering an average of -4.55% off the asking price.

Property investors should expect to get $300 weekly from the median priced house in this suburb.

Metrics i HOUSE UNIT
$396,500 $302,500
1.67% 6.70%
7.16% 11.01%
4.57% 3.11%
$360 $300
213 40
4.72% 5.16%
45.41 54.65

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
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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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