Suburb Profile Report for Spotswood VIC (3015)

Spotswood House: Median price $950,000, Annual capital growth 8.64%, Number of sales 30, Weekly median advertised rent $500

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

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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  • House Report

Investment property in Spotswood 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 -9.70%

When looking at the potential capital gains offered to property investors over the last 3 years, Spotswood comes in at number 454th in VIC.

In the last year 30 properties changed hands in Spotswood, which puts it as the 505th most active market in VIC when comparing the number of sales per suburb.

Information supplied by:


March 2018

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Peak growth increases occupancies

Postcode: 3015

Median unit price: $629,000

Vacancy rate: 1.8%

Three-year growth: 21.1%

The small suburb of Spotswood in Melbourne’s inner west recorded remarkable levels of demand over the past year that have led to the average vacancy rate sliding from 3% all the way down to 1.8%.

House values soared by 30% in the year leading up to December 2017 alone. The average annual growth rate is a remarkable 12.3%, indicating the incredible potential of this suburb. This is a likely contributor to occupancies tightening here.

The Geelong railway line runs along Spotswood’s western boundary and stops at the Spotswood station. The suburb is also bounded by the West Gate Freeway in the north – thus, Spotswood is a very convenient area. Spotswood is just 7km from the Melbourne CBD, and it is known as the site of the Victorian Science Museum, which is also called Scienceworks.

Metrics i HOUSE UNIT
$950,000 N/A
-9.52% N/A
-9.70% N/A
8.64% N/A
$500 N/A
30 N/A
2.74% N/A
79.1428571428572 N/A

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (H), Above average (U)
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Demographics
Total population 2338
Median household income ($/weekly) 1502
Median age of persons 37
Median housing loan repayment ($/monthly) 2300
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 179 7.7
    25-34 years 441 18.9
    35-44 years 445 19.0
    45-54 years 290 12.4
    55-64 years 254 10.9
    Others 730 31.2
    Age Group
    Census Count Percent(%)
    Not Married 835 45.1
    Registered Married 780 42.1
    Defacto Relationship 238 12.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 1607 72.0
    Japan 60 2.7
    Papua New Guinea 57 2.6
    United Kingdom 102 4.6
    Other 85 3.8
    Others 320 14.3
    Country of Birth
    Census Count Percent(%)
    Buddhism 36 1.7
    Christianity 1330 61.9
    Hinduism 42 2.0
    Islam 41 1.9
    No Religion 668 31.1
    Others 33 1.5
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 78 9.0
    $1,000-$1,249 79 9.1
    $1,500-$1,999 120 13.9
    $2,000-$2,499 88 10.2
    $2,500-$2,999 80 9.2
    Others 421 48.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 849 44.7
    Not in the labour force 557 29.3
    Employed, worked part-time 348 18.3
    Employed, away from work 76 4.0
    Unemployed, looking for work 71 3.7
    Person Characteristics
  • Census Count Percent(%)
    Managers 185 14.6
    Professionals 324 25.5
    Technicians & trades workers 156 12.3
    Community & personal service workers 112 8.8
    Clerical & administrative workers 194 15.3
    Others 300 23.6
    Occupation
    Census Count Percent(%)
    Pre-school 34 7.6
    Infants/Primary 116 25.9
    Secondary 111 24.8
    Technical or Further Educational Institution 45 10.0
    University or other Tertiary Institutions 123 27.5
    Others 19 4.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1714 77.3
    Semi-detached, row or terrace house, townhouse 400 18.1
    Flat, unit or apartment 71 3.2
    House or flat attached to a shop, office 31 1.4
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 331 35.7
    Fully owned 305 32.9
    Rented 287 31.0
    Other tenure type 3 0.3
    Tenure Type
Census 2011, ABS
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