Suburb Profile Report for Chadstone VIC (3148)

Chadstone House: Median price $895,500, Annual capital growth 5.95%, Number of sales 69, Weekly median advertised rent $460

Chadstone Unit: Median price $695,000, Annual capital growth 5.62%, Number of sales 48, Weekly median advertised rent $510

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

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

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  • House Report
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VIC has seen average median house prices change by -1.69% which means that Chadstone, 3148 has not done well for property investors by showing a capital gain of -20.04% over the last year

When looking at the potential capital gains offered to property investors over the last 3 years, Chadstone comes in at number 640th in VIC.

LACK OF BUYER INTEREST may well be the reason that Chadstone is offering property investors an average of -6.82. This rate of discount on properties puts Suburb at number 329th in terms of most discounted suburbs in VIC

Property investors should expect to get $460 weekly from the median priced house in this suburb.

At number 995th in the list of Australian suburbs ordered by increase in median house value over the last year, Chadstone, 3148 is in the BOTTOM 40% with a property value increase of -5.83% recorded in median house prices.

Chadstone,3148 was ranked 336 in Australia by increase in median property value over the quarter.

LACK OF BUYER INTEREST may well be the reason that Chadstone is offering property investors an average of -6.24. This rate of discount on properties puts Suburb at number 18th in terms of most discounted suburbs in VIC

Residents and property investors in Chadstone have been waiting around 73.9524 days to sell a property.

A $510 per week rent on the median house gives suburb investors a gross yield of circa 3.82%, without taking into account capital value appreciation, which has been averaging out at 5.62%.

Information supplied by:


August 2017

M
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Discount rates low even with high unit prices

Postcode: 3148

Median unit price: $670,000

Three-year growth: 26.18%

Rental yield: 3.57%

Even with its small size, the suburb of Chadstone is a powerhouse. Its unit market has been performing admirably in recent years, with prices rising by nearly 30% over the past 12 months leading up to May 2017.

Returns for investors are reasonable at 3.57%, while sellers can certainly get a good deal since the average discount rate offered is only 2.51%. This low rate signifies the strong demand for apartments in this area, since values are steep at over $650,000.

Chadstone is very well stocked, being home to the Waverley Basketball Centre, a campus of Holmesglen Institute of TAFE and Chadstone Shopping Centre. Scotchmans Creek borders Chadstone in the south, and the Monash freeway passes through the suburb as well.

 

Metrics i HOUSE UNIT
$895,500 $695,000
-1.40% 2.21%
-20.04% -5.83%
5.95% 5.62%
$460 $510
69 48
2.67% 3.82%
68.6774193548387 73.952380952381

Source: Monthly data update for Oct 2019 as supplied by CoreLogic. Data is reported to the period ending Jul 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 7819
Median household income ($/weekly) 1233
Median age of persons 33
Median housing loan repayment ($/monthly) 2000
Average household size 2.6
  • Census Count Percent(%)
    20-24 years 937 12.0
    25-34 years 1650 21.1
    35-44 years 1113 14.2
    45-54 years 859 11.0
    55-64 years 718 9.2
    Others 2545 32.5
    Age Group
    Census Count Percent(%)
    Not Married 3100 49.8
    Registered Married 2629 42.3
    Defacto Relationship 492 7.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 3737 50.7
    Croatia 651 8.8
    Hong Kong 272 3.7
    Indonesia 327 4.4
    Other 617 8.4
    Others 1764 23.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 506 7.1
    Christianity 4096 57.4
    Hinduism 272 3.8
    Islam 238 3.3
    No Religion 1832 25.7
    Others 197 2.8
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 255 9.8
    $600-$799 210 8.1
    $1,000-$1,249 230 8.9
    $1,500-$1,999 328 12.6
    $2,000-$2,499 226 8.7
    Others 1346 51.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2365 37.4
    Not in the labour force 2222 35.2
    Employed, worked part-time 1245 19.7
    Unemployed, looking for work 262 4.1
    Employed, away from work 227 3.6
    Person Characteristics
  • Census Count Percent(%)
    Managers 427 11.1
    Professionals 990 25.8
    Technicians & trades workers 484 12.6
    Clerical & administrative workers 563 14.7
    Sales 410 10.7
    Others 960 25.0
    Occupation
    Census Count Percent(%)
    Pre-school 106 5.5
    Infants/Primary 368 19.0
    Secondary 366 18.9
    Technical or Further Educational Institution 331 17.1
    University or other Tertiary Institutions 675 34.9
    Others 87 4.5
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 5536 74.8
    Semi-detached, row or terrace house, townhouse 1538 20.8
    Flat, unit or apartment 325 4.4
    House or flat attached to a shop, office 3 0.0
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1078 38.4
    Fully owned 886 31.5
    Being purchased 832 29.6
    Other tenure type 14 0.5
    Tenure Type
Census 2011, ABS
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