Suburb Profile Report for Forest Hill VIC (3131)

Forest Hill House: Median price $940,500, Annual capital growth 6.11%, Number of sales 97, Weekly median advertised rent $460

Forest Hill Unit: Median price $727,500, Annual capital growth 6.96%, Number of sales 36, Weekly median advertised rent $420

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

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

  • House Report
  • Unit Report

Over the last year, property investments in Forest Hill, 3131 have given investors a capital gain of 6.88%. This compares favourably with the 4.41% for VIC as a whole.

Over the longer term, Forest Hill has seen property prices show investors a -4.57% return over the last 3 years. This is an improvement over the last 12 months

LACK OF BUYER INTEREST may well be the reason that Forest Hill is offering property investors an average of -6.34. This rate of discount on properties puts Suburb at number 379th in terms of most discounted suburbs in VIC

On average over the past year, suburb has had 8.08 sales per month, which equates to 97 per year.

Renters in Suburb are facing rents around $23920 per annum or $460 every week.

Forest Hill, 3131 ranked 6th in VIC when comparing growth in median property values or capital gain over the last 12 months. Forest Hill is one of 2099 in our list for VIC

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Forest Hill has increased when compared to the 5 year average annual rate.

Using the current median advertised rental of $420 and the average annual increase in value of a median property of 6.96%, investors should hope to achieve an overall return of 3.00%

Metrics i HOUSE UNIT
$940,500 $727,500
5.67% 5.97%
6.88% 33.49%
6.11% 6.96%
$460 $420
97 36
2.54% 3.00%
43.1395348837209 115.208333333333

Source: Monthly data update for Jun 2020 as supplied by CoreLogic. Data is reported to the period ending Mar 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 10051
Median household income ($/weekly) 1118
Median age of persons 41
Median housing loan repayment ($/monthly) 1800
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 1151 11.5
    25-34 years 1271 12.6
    35-44 years 1485 14.8
    45-54 years 1271 12.6
    55-64 years 1030 10.2
    Others 3843 38.2
    Age Group
    Census Count Percent(%)
    Registered Married 3904 50.7
    Not Married 3402 44.2
    Defacto Relationship 388 5.0
    Social Marital Status
  • Census Count Percent(%)
    Australia 6107 63.6
    Croatia 615 6.4
    Malta 255 2.7
    United Kingdom 367 3.8
    Other 421 4.4
    Others 1837 19.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 656 7.1
    Christianity 5748 62.1
    Hinduism 189 2.0
    Islam 131 1.4
    No Religion 2406 26.0
    Others 122 1.3
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 439 12.3
    $600-$799 325 9.1
    $800-$999 330 9.2
    $1,500-$1,999 444 12.4
    $2,000-$2,499 336 9.4
    Others 1701 47.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 3184 40.2
    Employed, worked full-time 2781 35.1
    Employed, worked part-time 1491 18.8
    Employed, away from work 254 3.2
    Unemployed, looking for work 219 2.8
    Person Characteristics
  • Census Count Percent(%)
    Managers 541 12.0
    Professionals 1273 28.2
    Technicians & trades workers 564 12.5
    Clerical & administrative workers 727 16.1
    Sales 446 9.9
    Others 970 21.5
    Occupation
    Census Count Percent(%)
    Pre-school 173 7.6
    Infants/Primary 773 33.9
    Secondary 570 25.0
    Technical or Further Educational Institution 185 8.1
    University or other Tertiary Institutions 498 21.9
    Others 79 3.5
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 7798 81.7
    Semi-detached, row or terrace house, townhouse 1431 15.0
    Flat, unit or apartment 299 3.1
    House or flat attached to a shop, office 18 0.2
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 1620 42.5
    Being purchased 1224 32.1
    Rented 915 24.0
    Other tenure type 52 1.4
    Tenure Type
Census 2011, ABS
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