Suburb Profile Report for Glen Iris VIC (3146)

Glen Iris House: Median price $1,802,500, Annual capital growth 7.40%, Number of sales 223, Weekly median advertised rent $750

Glen Iris Unit: Median price $655,000, Annual capital growth 4.86%, Number of sales 148, Weekly median advertised rent $440

  • 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

At number 2849th in the list of Australian suburbs ordered by increase in median house value over the last year, Glen Iris, 3146 is in the BOTTOM 40% with a property value increase of -6.36% recorded in median house prices.

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

The most recent median price for Glen Iris is $1802500, with sellers offering an average of -6.03% off the asking price.

On average over the past year, suburb has had 18.58 sales per month, which equates to 223 per year.

If you compare the increase in value of investment property in Glen Iris, 3146 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was -10.03%.

Across a shorter period, Glen Iris, 3146 has seen a median price increase of -2.66% over the last quarter.

Property buyers and investors in Glen Iris 3146 should be seeing an average reduction in asking price of around -6.11% . This means that Glen Iris is holding prices well when compared to other suburbs in VIC.

At number 86 in a list of fastest selling suburbs, Glen Iris is in the TOP 10% of suburbs in Australia with an average of days on market 49.427 for properties listed there.

Advertised rents are around the $440 mark per week – giving a return of 3.49% based on the median price in Suburb

Michael Yardney Information supplied by:

Michael Yardney
Metropole Property Strategists

M 9591 8888
O 0419 800 900

W http://www.metropole.com.au/
E myardney@metropole.com.au
Selling points:
 
An easy 10 kilometres from Melbourne's CBD Glen Iris is a leafy suburb rich in history, schools, parks and family-friendly real estate.
 
Part of the City or Stonnington’s Glen Iris in well known for its shopping and lifestyle precincts, parks, gardens, leafy streets, historical architecture and the Gardiners Creek waterway hemmed by lush reserves and parklands.
 
It borders the suburbs of Camberwell, Ashburton, Malvern and Toorak, Glen Iris is popular with professionals, families and retirees and is in the demographic centre of Melbourne.
 
Most sought after properties: Post war homes, art deco apartments and town houses and in more recent year’s contemporary family residence & apartments
 
Most common properties:  Glen Iris gets its unique character from the fact that it was developed from farmlands and pastures, and so retains its spacious 'garden suburb' vibe, but there is a mixture of Art deco apartments, 50’s & 60’s brick homes and streets filled with 60’s and 70’s apartment blocks.
 
Top amenities: Council provides numerous services and facilities including libraries, swim centres, sports grounds catering for the 50% of the residents under the age of 35. 
 
Local industry and business: There has been strong growth in the local retail sector and the area enjoys a variety of services including health care, sport & leisure, a wealth of shopping options etc. 
 
Recent changes: The suburb of Glen Iris has seen an influx of housing developments which were aimed at improving the dynamic and character of changing times. With the introduction of new and retention of old there is a good sense of proud community amongst home owners.  
 
Best streets: Summerhill Road, Toorak Road, Ventich Street, Bath Road, Hope Street and Gardiner Parade just to name a few
 
Public transport: A healthy selection of trams, buses and trains servicing the immediate area, all within short walking distance via the main arteries. 
 
Main arteries: Malvern Rd,  Toorak Road, Burke Road, Warrigal Road and High Street
 
Metrics i HOUSE UNIT
$1,802,500 $655,000
0.28% -2.66%
-6.36% -10.03%
7.40% 4.86%
$750 $440
223 148
2.16% 3.49%
49.0689655172414 49.4269662921348

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 : Above average (H), Above average (U)
Find a mortgage broker in Glen Iris VIC
Demographics
Total population 24948
Median household income ($/weekly) 1965
Median age of persons 37
Median housing loan repayment ($/monthly) 2383
Average household size 2.6
  • Census Count Percent(%)
    5-14 years 3172 12.7
    25-34 years 3551 14.2
    35-44 years 3650 14.6
    45-54 years 3535 14.2
    55-64 years 2815 11.3
    Others 8226 33.0
    Age Group
    Census Count Percent(%)
    Registered Married 9674 52.3
    Not Married 7569 40.9
    Defacto Relationship 1269 6.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 17714 74.0
    Croatia 634 2.6
    Indonesia 723 3.0
    United Kingdom 973 4.1
    Other 831 3.5
    Others 3050 12.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 558 2.4
    Christianity 14155 61.7
    Hinduism 686 3.0
    Judaism 577 2.5
    No Religion 6671 29.1
    Others 312 1.4
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 921 11.3
    $2,000-$2,499 658 8.1
    $2,500-$2,999 1250 15.4
    $3,000-$3,499 804 9.9
    $4,000 or more 877 10.8
    Others 3629 44.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 8272 42.8
    Not in the labour force 5631 29.1
    Employed, worked part-time 4244 21.9
    Employed, away from work 615 3.2
    Unemployed, looking for work 575 3.0
    Person Characteristics
  • Census Count Percent(%)
    Managers 2433 18.5
    Professionals 4988 38.0
    Community & personal service workers 966 7.4
    Clerical & administrative workers 1920 14.6
    Sales 1160 8.8
    Others 1659 12.6
    Occupation
    Census Count Percent(%)
    Pre-school 565 8.3
    Infants/Primary 2173 31.9
    Secondary 1687 24.8
    Technical or Further Educational Institution 362 5.3
    University or other Tertiary Institutions 1850 27.1
    Others 179 2.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 16493 70.6
    Flat, unit or apartment 4313 18.5
    Semi-detached, row or terrace house, townhouse 2539 10.9
    House or flat attached to a shop, office 30 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 3464 38.8
    Being purchased 2973 33.3
    Rented 2416 27.1
    Other tenure type 64 0.7
    Tenure Type
Census 2011, ABS
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