Suburb Profile Report for Olinda VIC (3788)

Olinda House: Median price $608,250, Annual capital growth 6.67%, Number of sales 19, Weekly median advertised rent $410

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

Source: CoreLogic

  • House Report
  • Expert Report

With a capital gain of 7.65% for the last 12 months, Olinda, 3788 has performed for property investments than its average annual 6.67% property growth over the last 5 years.

If we look at median property appreciation over just the last three months, Olinda has given property investors a paper return of 9.89%. This puts Suburb as 22 on a list of fastest fasting appreciating suburbs in VIC

The most recent median price for Olinda is $608250, with sellers offering an average of -5.91% off the asking price.

Advertised rents are around the $410 mark per week – giving a return of 3.51% based on the median price in Suburb

Mark Yusuf Information supplied by:

Mark Yusuf
Harcourts Essential Real Estate

M 97546000
O 0419521065

W http://markyusuf.harcourts.com.au/
E MARK.YUSUF@HARCOURTS.COM.AU
Olinda lies 36km east of the Melbourne CBD and was named after Olinda creek which begins in the township. The creek was named after Alice Olinda Hodgkinson, the daughter of Clement Hodgkinson, Victorias acting surveyor general. Initially the town was a logging settlement however as land was made available for horticulture in the early 1900s the town grew substantially. Full summary
Olinda lies 36km east of the Melbourne CBD and was named after Olinda creek which begins in the township. The creek was named after Alice Olinda Hodgkinson, the daughter of Clement Hodgkinson, Victorias acting surveyor general. Initially the town was a logging settlement however as land was made available for horticulture in the early 1900s the town grew substantially. 
 
VIC has seen average median house prices change by 0.13% which means that Olinda, 3788 has done well for property investors by showing a capital gain of -15.37% over the last year.
 
The five-year average increase in median property values for Olinda,3788 has given property investors a potential capital gain of 10.85% across each of those five years.
 
The most recent median price for Olinda is $424000, with sellers offering an average of -9.71% off the asking price.
 
Olinda is 175th on a list of best yielding suburbs for rents in VIC with a 4.84% return.
 
Selling points: 
Excellent lifestyle , numerous parks and attractions, Sherbrooke state forest, relaxed  family living amidst an array of colour from the numerous plants and flowers throughout the town. Private tranquil homes are scattered throughout.
 
Most sought-after properties: 
Modest to grand homes ranging from the early 1900s to the late 1980s.
 
Most common properties:  
Mixture of small “miners cottages” with substantial character timber homes.
 
Top amenities: 
Parks, gardens gymnasium, cafes and retailshops, art galleries,  tea rooms, antique and bric a brac shops, golf course and forest walks
 
Local industry and business:
Primarily tourist and retail businesses, schools and shops.
 
Best streets: MONASH AVE, WARWICK FARM RD, MOUNT DANDENONG TOURIST RD
 
Public transport: Buses
 
Main arteries: Maroondah highway, Eastlink 
Close
HOUSE UNIT
$608,250 N/A
9.89% N/A
7.65% N/A
6.67% N/A
$410 N/A
19 N/A
3.51% N/A
33.69 N/A

Source: CoreLogic

DSR Score for property investment : Very good (U), Good (H)
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Demographics
Total population 1663
Median household income ($/weekly) 1418
Median age of persons 42
Median housing loan repayment ($/monthly) 1800
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 203 12.2
    25-34 years 162 9.7
    35-44 years 265 15.9
    45-54 years 262 15.7
    55-64 years 333 20.0
    Others 439 26.4
    Age Group
    Census Count Percent(%)
    Registered Married 666 53.7
    Not Married 420 33.9
    Defacto Relationship 154 12.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 1283 80.5
    New Zealand 21 1.3
    Papua New Guinea 23 1.4
    United Kingdom 139 8.7
    Other 45 2.8
    Others 83 5.2
    Country of Birth
    Census Count Percent(%)
    Buddhism 42 2.8
    Christianity 775 51.3
    Islam 6 0.4
    Other Religious Groups 32 2.1
    No Religion 649 43.0
    Others 6 0.4
    Religious Affiliation
  • Census Count Percent(%)
    $600-$799 62 10.6
    $1,250-$1,499 55 9.4
    $1,500-$1,999 82 14.0
    $2,000-$2,499 52 8.9
    $2,500-$2,999 70 12.0
    Others 263 45.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 526 40.4
    Not in the labour force 366 28.1
    Employed, worked part-time 321 24.7
    Employed, away from work 48 3.7
    Unemployed, looking for work 40 3.1
    Person Characteristics
  • Census Count Percent(%)
    Managers 157 17.5
    Professionals 248 27.7
    Technicians & trades workers 121 13.5
    Community & personal service workers 91 10.2
    Clerical & administrative workers 114 12.7
    Others 164 18.3
    Occupation
    Census Count Percent(%)
    Pre-school 35 9.3
    Infants/Primary 136 36.3
    Secondary 89 23.7
    Technical or Further Educational Institution 41 10.9
    University or other Tertiary Institutions 65 17.3
    Others 9 2.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1523 97.2
    Flat, unit or apartment 22 1.4
    Semi-detached, row or terrace house, townhouse 19 1.2
    House or flat attached to a shop, office 3 0.2
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 299 48.0
    Fully owned 236 37.9
    Rented 82 13.2
    Other tenure type 6 1.0
    Tenure Type
Census 2011, ABS
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