Suburb Profile Report for Edenhope VIC (3318)

Edenhope House: Median price $150,000, Annual capital growth 4.53%, Number of sales 17, Weekly median advertised rent $210

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

Source: CoreLogic

  • House Report
  • Expert Report

Investment property in Edenhope has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -7.12%

A 1.69% growth in median value for property investors in Edenhope,3318 puts this suburb at number 685th in terms of best performing suburbs in VIC

Our latest figures would indicate that property sellers in Edenhope are currently offering property investors an average price cut of -11.58% below the asking price at the moment.

Edenhope is 7th on a list of best yielding suburbs for rents in VIC with a 7.28% return

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February 2018

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Located near the Winmera Highway, Edenhope is one of the most affordable housing markets in Victoria, with the median house value coming in at $160,000Full summary

Record affordability appeals to house buyers

Postcode: 3318

Median house price: $160,000

Three-year growth: 4.9%

Rental yield: 6.5%

Located near the Winmera Highway, Edenhope is one of the most affordable housing markets in Victoria, with the median house value coming in at $160,000.

Despite the low prices, the suburb has been growing strongly in the last five years, with values increasing by 11.7% over the 12 months leading up to November 2017. With the accompanying high average rental yield of 6.5%, there will be competition for such low-priced, high-return properties.

Edenhope is on the shores of Lake Wallace, a well-known spot for fishing and water sports, and the Back Swamp. There are several shops and dining stops around given the presence of tourists here for the nature, as well as a hospital. Edenhope is also the administrative centre of West Wimmera.

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Metrics i HOUSE UNIT
$150,000 N/A
-6.25% N/A
-7.12% N/A
4.53% N/A
$210 N/A
17 N/A
7.28% N/A
170.92 N/A

Source: CoreLogic

DSR Score for property investment : Above average (U), Above average (H)
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Demographics
Total population 976
Median household income ($/weekly) 695
Median age of persons 49
Median housing loan repayment ($/monthly) 895
Average household size 2.1
  • Census Count Percent(%)
    5-14 years 103 10.6
    35-44 years 103 10.6
    45-54 years 147 15.1
    55-64 years 127 13.0
    65-74 years 129 13.2
    Others 366 37.5
    Age Group
    Census Count Percent(%)
    Registered Married 366 52.1
    Not Married 273 38.8
    Defacto Relationship 64 9.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 874 93.8
    Greece 8 0.9
    Papua New Guinea 10 1.1
    United Kingdom 16 1.7
    Other 11 1.2
    Others 13 1.4
    Country of Birth
    Census Count Percent(%)
    Christianity 697 75.2
    No Religion 215 23.2
    Buddhism 6 0.6
    Islam 6 0.6
    Other Religious Groups 3 0.3
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 69 19.3
    $400-$599 59 16.5
    $600-$799 44 12.3
    $800-$999 31 8.7
    $1,500-$1,999 37 10.4
    Others 117 32.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 331 42.7
    Employed, worked full-time 249 32.1
    Employed, worked part-time 145 18.7
    Employed, away from work 35 4.5
    Unemployed, looking for work 16 2.1
    Person Characteristics
  • Census Count Percent(%)
    Managers 107 25.0
    Professionals 56 13.1
    Technicians & trades workers 38 8.9
    Community & personal service workers 39 9.1
    Labourers 81 18.9
    Others 107 25.0
    Occupation
    Census Count Percent(%)
    Secondary 73 42.0
    Infants/Primary 59 33.9
    Pre-school 15 8.6
    University or other Tertiary Institutions 15 8.6
    Technical or Further Educational Institution 12 6.9
    Others 0 0.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 814 92.4
    Semi-detached, row or terrace house, townhouse 6 0.7
    Flat, unit or apartment 43 4.9
    Caravan, cabin, houseboat 3 0.3
    House or flat attached to a shop, office 12 1.4
    Others 3 0.3
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 200 48.7
    Being purchased 106 25.8
    Rented 96 23.4
    Other tenure type 9 2.2
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals