Suburb Profile Report for Mooroolbark VIC (3138)

Mooroolbark House: Median price $665,000, Annual capital growth 6.86%, Number of sales 268, Weekly median advertised rent $425

Mooroolbark Unit: Median price $538,000, Annual capital growth 5.86%, Number of sales 39, Weekly median advertised rent $400

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

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report
  • Unit Report

Investment property in Mooroolbark has done 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 -10.14%

Over the longer term, Mooroolbark has seen property prices show investors a 11.76% return over the last 3 years. This is worse than over the last 12 months

Mooroolbark, 3138 is offering VIC ‘s 244th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this VIC.

With the median price for a house in Mooroolbark being $665000 and the advertised rent reaching $425 the gross rental yield for property investors calculates out to be 3.32%

If you compare the increase in value of investment property in Mooroolbark, 3138 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was -9.01%.

A 42.33% growth in median value for property investors in Mooroolbark,3138 puts this suburb at number 213th in terms of best performing suburbs in VIC

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.31% offered to property buyers. Sellers in Mooroolbark itself are offering an average vendor discount of -8.15% to real estate investors.

Information supplied by:


November 2017

M
O

W
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Houses record brilliant performance

Postcode: 3138

Median house price: $673,500

Three-year growth: 46.2%

Rental yield: 3.1%

In the last five years, Mooroolbark’s house market has experienced capital growth of more than 40%. Located 31km east of Melbourne, in the Shire of Yarra Ranges, Mooroolbark is an established family suburb where city life meets the bush. Originally a much larger suburb, encompassing Wonga Park and Chirnside Park, Mooroolbark is well serviced by trains and buses, and is a short drive along the Maroondah Highway from the picturesque Yarra Valley. 

New townhouses are cropping up, in between older homes on large blocks, and the median house price is currently $673,500, up 14.5% over the past year. Mooroolbark is home to several excellent schools, both 5 and private, as well as the famous ‘Five Ways’ intersection, where three consecutive roundabouts connect five main roads. All the essential amenities can be found in the Brice Avenue shopping strip, while nearby Eastland Shopping Centre in Ringwood has several large department stores and speciality boutiques.

Metrics i HOUSE UNIT
$665,000 $538,000
-2.92% -0.37%
-10.14% -9.01%
6.86% 5.86%
$425 $400
268 39
3.32% 3.87%
49.4273858921162 66.4358974358974

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. 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 20689
Median household income ($/weekly) 1361
Median age of persons 35
Median housing loan repayment ($/monthly) 1746
Average household size 2.8
  • Census Count Percent(%)
    5-14 years 2659 12.9
    25-34 years 2921 14.1
    35-44 years 2865 13.8
    45-54 years 2858 13.8
    55-64 years 2465 11.9
    Others 6922 33.5
    Age Group
    Census Count Percent(%)
    Registered Married 8020 52.0
    Not Married 6092 39.5
    Defacto Relationship 1315 8.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 16172 80.5
    New Zealand 172 0.9
    Papua New Guinea 235 1.2
    United Kingdom 1445 7.2
    Other 591 2.9
    Others 1468 7.3
    Country of Birth
    Census Count Percent(%)
    Buddhism 143 0.8
    Christianity 12474 65.7
    Hinduism 93 0.5
    Other Religious Groups 131 0.7
    No Religion 6052 31.9
    Others 87 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $600-$799 580 9.1
    $800-$999 570 9.0
    $1,000-$1,249 658 10.4
    $1,500-$1,999 958 15.1
    $2,000-$2,499 747 11.8
    Others 2830 44.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 6737 41.9
    Not in the labour force 4858 30.2
    Employed, worked part-time 3328 20.7
    Employed, away from work 719 4.5
    Unemployed, looking for work 439 2.7
    Person Characteristics
  • Census Count Percent(%)
    Managers 1190 11.0
    Professionals 1769 16.4
    Technicians & trades workers 2016 18.7
    Clerical & administrative workers 1727 16.0
    Sales 1189 11.0
    Others 2890 26.8
    Occupation
    Census Count Percent(%)
    Pre-school 445 8.9
    Infants/Primary 1659 33.0
    Secondary 1505 30.0
    Technical or Further Educational Institution 541 10.8
    University or other Tertiary Institutions 664 13.2
    Others 206 4.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 19265 97.2
    Flat, unit or apartment 346 1.7
    Semi-detached, row or terrace house, townhouse 187 0.9
    House or flat attached to a shop, office 18 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 3382 48.6
    Fully owned 2308 33.2
    Rented 1248 17.9
    Other tenure type 23 0.3
    Tenure Type
Census 2011, ABS
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