Suburb Profile Report for Westmeadows VIC (3049)

Westmeadows House: Median price $628,000, Annual capital growth 8.35%, Number of sales 65, Weekly median advertised rent $400

Westmeadows Unit: Median price $525,000, Annual capital growth 4.74%, Number of sales 21, Weekly median advertised rent $380

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

Giving property investors a a stable capital gain of 4.67% for the last year, Westmeadows, 3049 is the 1469th highest performer in Australia in this respect.

When looking at the potential capital gains offered to property investors over the last 3 years, Westmeadows comes in at number 168th in VIC.

Sellers are offering property buyers an average discount of -4.62% to buyers in Westmeadows at the moment, which is less than average for the rest of VIC.

On average over the past year, suburb has had 5.42 sales per month, which equates to 65 per year.

A $400 per week rent on the median house gives suburb investors a gross yield of circa 3.31%, without taking into account capital value appreciation, which has been averaging out at 8.35%.

Over the last year, property investments in Westmeadows, 3049 have given investors a capital gain of 9.38%. This compares favourably with the 2.97% for VIC as a whole.

Westmeadows,3049 was ranked 640 in Australia by increase in median property value over the quarter.

Residents and property investors in Westmeadows have been waiting around 59 days to sell a property.

A $380 per week rent on the median house gives suburb investors a gross yield of circa 3.76%, without taking into account capital value appreciation, which has been averaging out at 4.74%.

Metrics i HOUSE UNIT
$628,000 $525,000
2.11% 0.00%
4.67% 9.38%
8.35% 4.74%
$400 $380
65 21
3.31% 3.76%
33.92 59

Source: CoreLogic

Disclaimer: The data presented here is the latest available data at the time of upload each month. Please note that data is routinely updated by our partners, so may change month to month.

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 5522
Median household income ($/weekly) 1234
Median age of persons 39
Median housing loan repayment ($/monthly) 1600
Average household size 2.7
  • Census Count Percent(%)
    5-14 years 555 10.0
    25-34 years 786 14.2
    35-44 years 709 12.8
    45-54 years 807 14.6
    55-64 years 825 14.9
    Others 1841 33.3
    Age Group
    Census Count Percent(%)
    Registered Married 2065 47.1
    Not Married 2024 46.1
    Defacto Relationship 297 6.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 3856 74.1
    Japan 230 4.4
    Netherlands 82 1.6
    United Kingdom 169 3.2
    Other 205 3.9
    Others 662 12.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 100 2.0
    Christianity 3808 75.4
    Hinduism 20 0.4
    Islam 273 5.4
    No Religion 841 16.7
    Others 7 0.1
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 171 9.7
    $600-$799 170 9.7
    $1,000-$1,249 185 10.5
    $1,500-$1,999 250 14.2
    $2,000-$2,499 181 10.3
    Others 802 45.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1776 40.0
    Not in the labour force 1473 33.2
    Employed, worked part-time 816 18.4
    Employed, away from work 209 4.7
    Unemployed, looking for work 161 3.6
    Person Characteristics
  • Census Count Percent(%)
    Professionals 399 14.3
    Technicians & trades workers 440 15.7
    Community & personal service workers 286 10.2
    Clerical & administrative workers 516 18.4
    Sales 301 10.8
    Others 858 30.6
    Occupation
    Census Count Percent(%)
    Pre-school 59 5.6
    Infants/Primary 325 30.9
    Secondary 332 31.5
    Technical or Further Educational Institution 116 11.0
    University or other Tertiary Institutions 176 16.7
    Others 45 4.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4687 89.0
    Semi-detached, row or terrace house, townhouse 557 10.6
    Flat, unit or apartment 19 0.4
    House or flat attached to a shop, office 5 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 772 40.5
    Fully owned 761 39.9
    Rented 363 19.0
    Other tenure type 11 0.6
    Tenure Type
Census 2011, ABS
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