Suburb Profile Report for Armadale VIC (3143)

Armadale House: Median price $2,107,500, Annual capital growth 4.71%, Number of sales 91, Weekly median advertised rent $850

Armadale Unit: Median price $656,000, Annual capital growth 4.53%, Number of sales 118, Weekly median advertised rent $428

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

With a capital gain of -1.52% for the last 12 months, Armadale, 3143 has performed for property investments than its average annual 4.71% property growth over the last 5 years.

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

Armadale, 3143 is offering VIC ‘s 15th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 10% of discounts offered by this VIC.

Armadale is 526th on a list of best yielding suburbs for rents in VIC with a 2.10% return

Armadale, 3143 ranked 300th in VIC when comparing growth in median property values or capital gain over the last 12 months. Armadale is one of 2098 in our list for VIC

Taking the average capital gain, or increase in median house value, Armadale,3143 has racked up an average of -0.61% over the period. This ranks it number 972th in the whole country for real estate investors looking at median house price increases.

Vendor discounting in Armadale is giving property investors an average Vendor Discount of around -6.17%. This puts suburb at number 55th in VIC when ranking the most discounted suburbs.

With the median price for a house in Armadale being $656000 and the advertised rent reaching $428 the gross rental yield for property investors calculates out to be 3.39%

Michael Yardney Information supplied by:

Michael Yardney
Metropole Property Strategists

M 9591 8888
O 0419 800 900

Armadale's unit market offers some competitive investment possibilities, being a market that's within 15 minutes of Melbourne CBD and largely considered a top end destination.Full summary

Looking at Armadale's median house price, this is one area that’s all about units when it comes to investors who are looking for a realistic option. Its median unit price might also push the budget boundaries, but this is a market with good growth pedigree.

In terms of location, Armadale’s not inner-city, but it is within 10km of the Melbourne CBD and is easily accessible via its own train station – with the city centre being just a 13-minute ride away. Amenities are excellent, with all the right boxes being ticked when it comes to cafes, shops and restaurants.

“It’s next to Toorak, which is a notable top-end suburb,” says Buyer Solutions’ Janet Spencer. “Units are moving well in the sub-$600,000 range, and I’ve been to some auctions that have been hotly contested.”

She recommends that investors look for good one-bedroom units with off-street parking and an outdoor area such as a balcony. She adds however that these are very hard to come by in Armadale at the moment.

Australian Property Buyers’ Karin Mackay notes however that a lot of Armadale’s units tend to be on busy roads, so the pick of the bunch will be those in quieter areas.

Renters made up around 40% of all occupants during the 2006 Census, and SQM Research expects this figure to remain fairly stable over the next five years.

Selling points: Within 7 kms of Melbourne’s Central Business District and bordering Toorak and neighbouring suburbs Malvern, Prahran and South Yarra, Armadale is considered one of the state’s most sought after blue chip locations.

With the likes of Glenferrie Road and High Street boutique shops, restaurants, eateries and cafes it is well known for its diversity of shopping.  Armadale is within proximity to a number of Melbourne’s leading private schools, parks lands such as Toorak Park, Victory Square Reserve, Armadale Reserve and the Union Street Gardens. 
Armadale offers a variety of housing which includes low rise, low density apartment living, contemporary and period homes in picturesque tree lined streets with a balanced offering or new and old.  Over the improvements years to states infrastructures including transportation has played a vital part to suburbs accessibility to C.B.D. 
Most sought-after properties: First home buyers and investors alike been drawn to appreciate the apartment living while homeowners have enjoyed the award winning modern architectural splendours and charming Edwardian/Victorian period homes.  
Most common properties:  Art Deco apartments, 60’s & 70’s apartments, period homes, modern townhouses and homes. 
Top amenities: Accessibility to both primary and secondary schools within the immediate area, a number of green parklands which include Orrong Park, Victory Square, Armadale Reserve, Union Street Gardens. The city of Stonnington boasts some of the best aquatic facilities in the state, is home to more than 60 sporting clubs, ‘Grow With Us’ is a Council initiative encouraging young people aged 10-18 offering a range of free sporting and recreation programs.  Arts and Cultural Development contributes to the continual wellbeing of the Stonnington Community. 
Local industry and business: Predominately a residential suburb, there is a good mixture of retail and other small business trade within the demographic and surrounding suburbs. 
Recent changes: Beside the ever growing popularity of low density apartment living the general focus in recent times has been sustainability.  The local City of Stonnington is continually enhancing the sustainability though different programs aimed at leading and implementing a range of environmental services and initiatives that are designed to protect our assets for generations to come. These include biodiversity, water management, waste and recycling, sustainable transport which involves improving transport, access and movement and energy efficiency and greenhouse impact resolution and awareness.  
There are a number of medium rise new apartment buildings planned along High Street Armadale, which will add to the diversity of properties on offer.
Best streets: The best streets in Armadale are the leafy wide tree lined streets with proximity to amenities including shops, public transport, schools, parks and cafes.  
Public transport:  The suburb is superbly supplied with a number of tram routes and train lines with heading towards the C.B.D. There are also a number of bus lines serving the suburb.
Main arteries: The main roads include Princess Highway, High Street, Kooyong Road, Malvern Road, Glenferrie Road and Orrong Road. 
Metrics i HOUSE UNIT
$2,107,500 $656,000
-0.12% 0.61%
-1.52% -0.61%
4.71% 4.53%
$850 $428
91 118
2.10% 3.39%
80.09 48.05

Source: CoreLogic

DSR Score for property investment : Good (H), Above average (U)
Find a mortgage broker in Armadale VIC
Total population 8760
Median household income ($/weekly) 1712
Median age of persons 36
Median housing loan repayment ($/monthly) 2500
Average household size 2.1
  • Census Count Percent(%)
    25-34 years 1948 22.2
    35-44 years 1295 14.8
    45-54 years 1028 11.7
    55-64 years 944 10.8
    65-74 years 750 8.6
    Others 2795 31.9
    Age Group
    Census Count Percent(%)
    Not Married 3161 47.3
    Registered Married 2701 40.4
    Defacto Relationship 827 12.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 5649 69.5
    Croatia 221 2.7
    Indonesia 234 2.9
    United Kingdom 386 4.7
    Other 388 4.8
    Others 1251 15.4
    Country of Birth
    Census Count Percent(%)
    Buddhism 234 3.0
    Christianity 4283 55.3
    Hinduism 218 2.8
    Judaism 531 6.9
    No Religion 2384 30.8
    Others 101 1.3
    Religious Affiliation
  • Census Count Percent(%)
    $1,250-$1,499 270 7.7
    $1,500-$1,999 398 11.4
    $2,000-$2,499 264 7.6
    $2,500-$2,999 511 14.6
    $4,000 or more 333 9.5
    Others 1714 49.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 3287 46.7
    Not in the labour force 2037 28.9
    Employed, worked part-time 1304 18.5
    Employed, away from work 212 3.0
    Unemployed, looking for work 204 2.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 852 17.7
    Professionals 1996 41.5
    Community & personal service workers 332 6.9
    Clerical & administrative workers 679 14.1
    Sales 391 8.1
    Others 554 11.5
    Census Count Percent(%)
    Pre-school 156 8.5
    Infants/Primary 492 26.7
    Secondary 345 18.8
    Technical or Further Educational Institution 124 6.7
    University or other Tertiary Institutions 663 36.0
    Others 60 3.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3517 44.2
    Flat, unit or apartment 2593 32.6
    Semi-detached, row or terrace house, townhouse 1804 22.7
    House or flat attached to a shop, office 50 0.6
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1685 45.0
    Fully owned 1183 31.6
    Being purchased 850 22.7
    Other tenure type 26 0.7
    Tenure Type
Census 2011, ABS
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