Suburb Profile Report for Heathmont VIC (3135)

Heathmont House: Median price $875,000, Annual capital growth 7.26%, Number of sales 117, Weekly median advertised rent $450

Heathmont Unit: Median price $651,000, Annual capital growth 5.66%, Number of sales 46, Weekly median advertised rent $390

  • 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.

  • Expert Report
  • House Report
  • Unit Report

Heathmont has had a very poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -5.91% to date .

Taking the average capital gain, or increase in median house value, Heathmont,3135 has racked up an average of -5.91% over the period. This ranks it number 1776th in the whole country for real estate investors looking at median house price increases.

LACK OF BUYER INTEREST may well be the reason that Heathmont is offering property investors an average of -6.51. This rate of discount on properties puts Suburb at number 68th in terms of most discounted suburbs in VIC

Often selling an investment property can take time, and in Heathmont the average time real estate has been on the market is 44.9444 days.

Heathmont is 515th on a list of best yielding suburbs for rents in VIC with a 2.67% return

Property value increases in Heathmont have tracked lower than the VIC average of 6.11% over the last 12 months.

Comparing Heathmont,3135 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

The most recent median price for Heathmont is $651000, with sellers offering an average of -6.22% off the asking price.

With the median price for a house in Heathmont being $651000 and the advertised rent reaching $390 the gross rental yield for property investors calculates out to be 3.12%

Information supplied by:




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Heathmont, VIC – Prices drop in the last year

Postcode: 3135

Median unit price: $607,500

Three-year growth: 8.5%

Rental yield: 3.4%

Roughly 30 minutes’ drive from the Melbourne CBD is the suburb of Heathmont, which appeals to residents with its quiet and safe environment and village vibe.

The suburb is served by the Heathmont Shopping Centre, which has modern cafes like The Village Food Store and Chapter Too. There is also an IGA supermarket and takeaways. The shopping centre is situated just across the Heathmont railway station, and offers a view of the Dandenong Ranges. Schools in the suburb include Heathmont East Primary School, Great Ryrie Primary School and Heathmont College. Residents can relax in one of the suburb’s many parks.

In the year to July 2019, unit prices plummeted by nearly 15%, bringing the median to $607,500.

Metrics i HOUSE UNIT
$875,000 $651,000
1.33% 0.93%
-5.91% -4.85%
7.26% 5.66%
$450 $390
117 46
2.67% 3.12%
44.9444444444444 51.64

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 9250
Median household income ($/weekly) 1420
Median age of persons 39
Median housing loan repayment ($/monthly) 1751
Average household size 2.6
  • Census Count Percent(%)
    5-14 years 1149 12.4
    25-34 years 1115 12.1
    35-44 years 1420 15.3
    45-54 years 1229 13.3
    55-64 years 1107 12.0
    Others 3231 34.9
    Age Group
    Census Count Percent(%)
    Registered Married 3811 54.9
    Not Married 2583 37.2
    Defacto Relationship 549 7.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 7195 80.0
    Croatia 122 1.4
    Papua New Guinea 147 1.6
    United Kingdom 538 6.0
    Other 240 2.7
    Others 750 8.3
    Country of Birth
    Census Count Percent(%)
    Buddhism 186 2.2
    Christianity 5576 65.4
    Hinduism 68 0.8
    Other Religious Groups 41 0.5
    No Religion 2614 30.7
    Others 42 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $800-$999 271 8.9
    $1,000-$1,249 305 10.0
    $1,500-$1,999 456 14.9
    $2,000-$2,499 331 10.8
    $2,500-$2,999 306 10.0
    Others 1384 45.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2857 39.1
    Not in the labour force 2388 32.7
    Employed, worked part-time 1591 21.8
    Employed, away from work 263 3.6
    Unemployed, looking for work 214 2.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 565 12.0
    Professionals 1239 26.3
    Technicians & trades workers 668 14.2
    Clerical & administrative workers 821 17.4
    Sales 460 9.8
    Others 958 20.3
    Occupation
    Census Count Percent(%)
    Pre-school 190 8.6
    Infants/Primary 746 33.6
    Secondary 633 28.5
    Technical or Further Educational Institution 232 10.5
    University or other Tertiary Institutions 348 15.7
    Others 69 3.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 7760 88.4
    Semi-detached, row or terrace house, townhouse 683 7.8
    Flat, unit or apartment 324 3.7
    House or flat attached to a shop, office 11 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1450 43.6
    Fully owned 1276 38.4
    Rented 582 17.5
    Other tenure type 16 0.5
    Tenure Type
Census 2011, ABS
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