Suburb Profile Report for Westmeadows VIC (3049)

Westmeadows House: Median price $605,000, Annual capital growth 6.01%, Number of sales 67, Weekly median advertised rent $405

Westmeadows Unit: Median price $505,500, Annual capital growth 4.70%, Number of sales 19, Weekly median advertised rent $400

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

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

Investment property in Westmeadows has done pretty 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 -2.42%

The five-year average increase in median property values for Westmeadows,3049 has given property investors a potential capital gain of 47.56% across each of those five years.

Situated 16.53km from the CBD, Westmeadows is one of Hume (C) localities in the postcode 3049.

Westmeadows, 3049 ranked 288th in VIC when comparing growth in median property values or capital gain over the last 12 months. Westmeadows is one of 2099 in our list for VIC

Westmeadows,3049 has offered an average of -2.98% return per annum in house price rises to property investors over the last three years.

In the last year 19 properties changed hands in Westmeadows, which puts it as the 304th most active market in VIC when comparing the number of sales per suburb.

Using the current median advertised rental of $400 and the average annual increase in value of a median property of 4.70%, investors should hope to achieve an overall return of 4.11%

Metrics i HOUSE UNIT
$605,000 $505,500
-2.42% 0.60%
-2.42% -2.98%
6.01% 4.70%
$405 $400
67 19
3.48% 4.11%
44 69.3636363636364

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

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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