Suburb Profile Report for Belgrave VIC (3160)

Belgrave House: Median price $622,500, Annual capital growth 6.20%, Number of sales 56, Weekly median advertised rent $460

  • 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.

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  • House Report

Property investors who have had real estate in Belgrave, 3160 should be relatively unhappy with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -6.67%

Taking the average capital gain, or increase in median house value, Belgrave,3160 has racked up an average of -6.67% over the period. This ranks it number 499th in the whole country for real estate investors looking at median house price increases.

LACK OF BUYER INTEREST may well be the reason that Belgrave is offering property investors an average of -6.90. This rate of discount on properties puts Suburb at number 220th in terms of most discounted suburbs in VIC

Renters in Suburb are facing rents around $23920 per annum or $460 every week.

Information supplied by:


December 2017

M
O

W
E

Housing market chugs along

Postcode: 3160

Median house price: $580,000

Three-year growth: 39.8%

Rental yield: 3.6%

Known as the home of the famous vintage steam engine Puffing Billy, the suburb of Belgrave has a strongly performing housing market that saw 20% growth in the 12 months leading up to the end of September 2017.

Sellers have a very easy time unloading houses, as they are usually snapped up by 20 days, on average. The average discount rate is just 2.7%, indicating that buyers are eager to stake claims on properties here.

This is unsurprising considering Belgrave’s thriving commercial scene. It is a hipster’s dream, with numerous cafes serving fair-trade coffee and organic products. There are also restaurants, and a Woolworths. Belgrave has a lively entertainment scene with cinemas, venues for live music and a recording studio.

Belgrave is situated near the Dandenong Ranges National Park and Sherbrooke Forest. St Thomas More’s Primary School and Mater Christi College are established here as well.

Metrics i HOUSE UNIT
$622,500 N/A
-2.96% N/A
-6.67% N/A
6.20% N/A
$460 N/A
56 N/A
3.84% N/A
57.2083333333333 N/A

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 : Very good (H), Above average (U)
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Demographics
Total population 3966
Median household income ($/weekly) 1387
Median age of persons 36
Median housing loan repayment ($/monthly) 1647
Average household size 2.7
  • Census Count Percent(%)
    5-14 years 530 13.4
    25-34 years 478 12.0
    35-44 years 694 17.5
    45-54 years 585 14.7
    55-64 years 520 13.1
    Others 1160 29.2
    Age Group
    Census Count Percent(%)
    Registered Married 1324 45.6
    Not Married 1200 41.3
    Defacto Relationship 382 13.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 3115 82.0
    New Zealand 32 0.8
    Papua New Guinea 67 1.8
    United Kingdom 294 7.7
    Other 73 1.9
    Others 216 5.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 71 2.0
    Christianity 1653 47.0
    Islam 22 0.6
    Other Religious Groups 56 1.6
    No Religion 1697 48.2
    Others 20 0.6
    Religious Affiliation
  • Census Count Percent(%)
    $600-$799 122 9.8
    $1,000-$1,249 133 10.6
    $1,250-$1,499 127 10.2
    $1,500-$1,999 195 15.6
    $2,000-$2,499 135 10.8
    Others 537 43.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1259 41.7
    Not in the labour force 849 28.1
    Employed, worked part-time 697 23.1
    Unemployed, looking for work 109 3.6
    Employed, away from work 106 3.5
    Person Characteristics
  • Census Count Percent(%)
    Managers 238 11.6
    Professionals 544 26.4
    Technicians & trades workers 336 16.3
    Community & personal service workers 236 11.5
    Clerical & administrative workers 272 13.2
    Others 433 21.0
    Occupation
    Census Count Percent(%)
    Pre-school 90 8.3
    Infants/Primary 353 32.4
    Secondary 304 27.9
    Technical or Further Educational Institution 107 9.8
    University or other Tertiary Institutions 181 16.6
    Others 53 4.9
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3503 93.5
    Semi-detached, row or terrace house, townhouse 231 6.2
    Flat, unit or apartment 7 0.2
    House or flat attached to a shop, office 5 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 817 59.8
    Fully owned 386 28.2
    Rented 156 11.4
    Other tenure type 8 0.6
    Tenure Type
Census 2011, ABS
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