Suburb Profile Report for Grovedale VIC (3216)

Grovedale House: Median price $415,000, Annual capital growth 4.57%, Number of sales 240, Weekly median advertised rent $360

Grovedale Unit: Median price $323,250, Annual capital growth 4.35%, Number of sales 44, Weekly median advertised rent $300

  • 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 Grovedale, 3216 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 8.71%.

If we look at median property appreciation over just the last three months, Grovedale has given property investors a paper return of 2.22%. This puts Suburb as 352 on a list of fastest fasting appreciating suburbs in VIC

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Grovedale, 3216. Typically our figures indicate that -3.94% is being offered, which puts this VIC suburb at 3001th most discounted overall in Australia.

Grovedale is in the TOP 30% in VIC when comparing median price capital growth over the last year. Grovedale gave property investors a good capital gain figure when compared to the rest of the state, with 11.47%.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Grovedale has increased when compared to the 5 year average annual rate.

Our latest figures would indicate that property sellers in Grovedale are currently offering property investors an average price cut of -4.03% below the asking price at the moment.

With the median price for a house in Grovedale being $323250 and the advertised rent reaching $300 the gross rental yield for property investors calculates out to be 4.83%

Metrics i HOUSE UNIT
$415,000 $323,250
2.22% 3.44%
8.71% 11.47%
4.57% 4.35%
$360 $300
240 44
4.51% 4.83%
29.83 51.95

Source: CoreLogic

DSR Score for property investment : Very 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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