Suburb Profile Report for Springvale South VIC (3172)

Springvale South House: Median price $746,000, Annual capital growth 8.46%, Number of sales 73, Weekly median advertised rent $390

Springvale South Unit: Median price $508,500, Annual capital growth 6.94%, Number of sales 37, Weekly median advertised rent $350

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

With a capital gain of 9.87% for the last 12 months, Springvale South, 3172 has performed for property investments than its average annual 8.46% property growth over the last 5 years.

Springvale South,3172 has offered an average of 9.87% return per annum in house price rises to property investors over the last three years.

At number 538th of VIC’s most discounted properties, Springvale South is in the TOP 20% of the state/territory when listing in order of most discounted to least.

Advertised rents are around the $390 mark per week – giving a return of 2.72% based on the median price in Suburb

If you compare the increase in value of investment property in Springvale South, 3172 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 24.02%.

Across a shorter period, Springvale South, 3172 has seen a median price increase of 3.25% over the last quarter.

Our latest figures would indicate that property sellers in Springvale South are currently offering property investors an average price cut of -4.96% below the asking price at the moment.

Springvale South is 237th on a list of best yielding suburbs for rents in VIC with a 3.58% return

Information supplied by:


September 2018

M
O

W
E
24km from the Melbourne CBD, the suburb of Springvale South has seen steadfast growth since 2013, and shows no signs of letting up any time soonFull summary

Numbers go up

Postcode: 3172

Median unit price: $500,000

Three-year growth: 44.7%

Rental yield: 3.6%

24km from the Melbourne CBD, the suburb of Springvale South has seen steadfast growth since 2013, and shows no signs of letting up any time soon.

In the three months to June 2018, unit values spiked by 10.4%, bringing the median price to $500,000 at an average annual growth rate of 6.1%. There is high demand for apartments in this area, as evidenced by how those on the market are snapped up in less than a month on average.

Springvale South is part of the LGA of the City of Greater Dandenong, and is the location of Springvale South Primary School, Spring Parks Primary School, Heatherhill Primary School and Keysborough Secondary College. Springvale South is the immediate neighbour of Springville in the south, and is a food-lover’s dream, given the many available dining options in the area.

Close
Metrics i HOUSE UNIT
$746,000 $508,500
0.00% 3.25%
9.87% 24.02%
8.46% 6.94%
$390 $350
73 37
2.72% 3.58%
52.18 37

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
Find a mortgage broker in Springvale South VIC
Demographics
Total population 12183
Median household income ($/weekly) 998
Median age of persons 34
Median housing loan repayment ($/monthly) 1517
Average household size 3.1
  • Census Count Percent(%)
    5-14 years 1555 12.8
    25-34 years 1918 15.7
    35-44 years 1638 13.4
    45-54 years 1616 13.3
    55-64 years 1353 11.1
    Others 4103 33.7
    Age Group
    Census Count Percent(%)
    Not Married 4445 48.1
    Registered Married 4403 47.6
    Defacto Relationship 402 4.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 4664 40.5
    Canada 1429 12.4
    Indonesia 496 4.3
    Viet Nam 2228 19.4
    Other 770 6.7
    Others 1916 16.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 4275 37.9
    Christianity 4543 40.3
    Islam 351 3.1
    Other Religious Groups 344 3.0
    No Religion 1579 14.0
    Others 188 1.7
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 404 12.2
    $600-$799 400 12.0
    $800-$999 368 11.1
    $1,000-$1,249 373 11.2
    $1,500-$1,999 421 12.7
    Others 1355 40.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 3877 41.6
    Employed, worked full-time 3150 33.8
    Employed, worked part-time 1450 15.6
    Unemployed, looking for work 494 5.3
    Employed, away from work 350 3.8
    Person Characteristics
  • Census Count Percent(%)
    Professionals 538 10.9
    Technicians & trades workers 756 15.3
    Clerical & administrative workers 582 11.8
    Machinery operators & drivers 723 14.6
    Labourers 986 19.9
    Others 1365 27.6
    Occupation
    Census Count Percent(%)
    Infants/Primary 883 29.5
    Secondary 937 31.3
    Technical or Further Educational Institution 294 9.8
    University or other Tertiary Institutions 536 17.9
    Other type of educational institution 179 6.0
    Others 162 5.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 9814 84.2
    Semi-detached, row or terrace house, townhouse 906 7.8
    Flat, unit or apartment 876 7.5
    Caravan, cabin, houseboat 53 0.5
    House or flat attached to a shop, office 12 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 1403 39.2
    Being purchased 1265 35.3
    Rented 890 24.8
    Other tenure type 25 0.7
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals