Suburb Profile Report for Parkville VIC (3052)

Parkville House: Median price $2,337,500, Annual capital growth 14.33%, Number of sales 23, Weekly median advertised rent $775

Parkville Unit: Median price $505,750, Annual capital growth 1.35%, Number of sales 88, Weekly median advertised rent $420

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

Source: CoreLogic

  • House Report
  • Unit Report

Our latest figures would indicate that property sellers in Parkville are currently offering property investors an average price cut of -7.39% below the asking price at the moment.

In the last year 23 properties changed hands in Parkville, which puts it as the 575th most active market in VIC when comparing the number of sales per suburb.

With the median price for a house in Parkville being $2337500 and the advertised rent reaching $775 the gross rental yield for property investors calculates out to be 1.72%

Property value increases in Parkville have tracked lower than the VIC average of 8.36% over the last 12 months.

A -0.83% growth in median value for property investors in Parkville,3052 puts this suburb at number 318th in terms of best performing suburbs in VIC

LACK OF BUYER INTEREST may well be the reason that Parkville is offering property investors an average of -4.67. This rate of discount on properties puts Suburb at number 96th in terms of most discounted suburbs in VIC

Advertised rents are around the $420 mark per week – giving a return of 4.32% based on the median price in Suburb

Metrics i HOUSE UNIT
$2,337,500 $505,750
-8.62% -2.18%
N/A -4.05%
14.33% 1.35%
$775 $420
23 88
1.72% 4.32%
64.8 85.12

Source: CoreLogic

DSR Score for property investment : Above average (H), Above average (U)
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Demographics
Total population 6192
Median household income ($/weekly) 1487
Median age of persons 24
Median housing loan repayment ($/monthly) 2100
Average household size 2.3
  • Census Count Percent(%)
    15-19 years 1092 17.6
    20-24 years 1648 26.6
    25-34 years 1146 18.5
    35-44 years 490 7.9
    55-64 years 411 6.6
    Others 1406 22.7
    Age Group
    Census Count Percent(%)
    Not Married 1810 57.3
    Registered Married 992 31.4
    Defacto Relationship 357 11.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 3526 61.2
    Croatia 352 6.1
    Malta 317 5.5
    United Kingdom 244 4.2
    Other 300 5.2
    Others 1025 17.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 307 5.7
    Christianity 2472 45.6
    Hinduism 96 1.8
    Islam 153 2.8
    No Religion 2349 43.3
    Others 47 0.9
    Religious Affiliation
  • Census Count Percent(%)
    $800-$999 116 8.4
    $1,250-$1,499 142 10.3
    $1,500-$1,999 171 12.3
    $2,500-$2,999 157 11.3
    $4,000 or more 116 8.4
    Others 683 49.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 2137 39.4
    Employed, worked full-time 1443 26.6
    Employed, worked part-time 1232 22.7
    Unemployed, looking for work 404 7.5
    Employed, away from work 201 3.7
    Person Characteristics
  • Census Count Percent(%)
    Managers 283 9.8
    Professionals 1212 42.2
    Community & personal service workers 376 13.1
    Clerical & administrative workers 365 12.7
    Sales 245 8.5
    Others 393 13.7
    Occupation
    Census Count Percent(%)
    Infants/Primary 137 4.5
    Secondary 139 4.5
    Technical or Further Educational Institution 66 2.2
    University or other Tertiary Institutions 2627 86.0
    Other type of educational institution 55 1.8
    Others 31 1.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Flat, unit or apartment 1582 44.1
    Semi-detached, row or terrace house, townhouse 1463 40.8
    Separate house 541 15.1
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 899 59.2
    Fully owned 323 21.3
    Being purchased 283 18.6
    Other tenure type 13 0.9
    Tenure Type
Census 2011, ABS
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