Suburb Profile Report for Springvale VIC (3171)

Springvale House: Median price $760,000, Annual capital growth 9.41%, Number of sales 157, Weekly median advertised rent $380

Springvale Unit: Median price $513,000, Annual capital growth 7.80%, Number of sales 125, Weekly median advertised rent $360

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

Source: CoreLogic

  • House Report
  • Unit Report

Springvale has had a quite poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of 10.14% to date .

Comparing Springvale,3171 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

LACK OF BUYER INTEREST may well be the reason that Springvale is offering property investors an average of -5.00. This rate of discount on properties puts Suburb at number 627th in terms of most discounted suburbs in VIC

A $380 per week rent on the median house gives suburb investors a gross yield of circa 2.60%, without taking into account capital value appreciation, which has been averaging out at 9.64%.

Investment property in Springvale has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 16.59%

Across a shorter period, Springvale, 3171 has seen a median price increase of -0.39% over the last quarter.

State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.58% offered to property buyers. Sellers in Springvale itself are offering an average vendor discount of -5.36% to real estate investors.

A $360 per week rent on the median house gives suburb investors a gross yield of circa 3.65%, without taking into account capital value appreciation, which has been averaging out at 7.83%.

Metrics i HOUSE UNIT
$760,000 $513,000
0.00% 0.59%
9.04% 16.59%
9.41% 7.80%
$380 $360
157 125
2.60% 3.65%
58.37 54.9

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 19770
Median household income ($/weekly) 884
Median age of persons 34
Median housing loan repayment ($/monthly) 1500
Average household size 2.9
  • Census Count Percent(%)
    5-14 years 2127 10.8
    25-34 years 3746 18.9
    35-44 years 2521 12.8
    45-54 years 2298 11.6
    55-64 years 1932 9.8
    Others 7147 36.1
    Age Group
    Census Count Percent(%)
    Not Married 7775 49.8
    Registered Married 7334 47.0
    Defacto Relationship 507 3.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 5839 31.2
    Canada 1033 5.5
    Indonesia 2075 11.1
    Viet Nam 4183 22.3
    Other 1560 8.3
    Others 4034 21.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 5400 29.4
    Christianity 7401 40.3
    Islam 952 5.2
    Other Religious Groups 1383 7.5
    No Religion 2628 14.3
    Others 620 3.4
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 831 14.6
    $600-$799 747 13.1
    $800-$999 548 9.6
    $1,000-$1,249 648 11.3
    $1,500-$1,999 656 11.5
    Others 2281 39.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 7108 45.7
    Employed, worked full-time 4572 29.4
    Employed, worked part-time 2494 16.0
    Unemployed, looking for work 887 5.7
    Employed, away from work 486 3.1
    Person Characteristics
  • Census Count Percent(%)
    Professionals 870 11.5
    Technicians & trades workers 1214 16.1
    Clerical & administrative workers 780 10.3
    Machinery operators & drivers 1197 15.8
    Labourers 1508 20.0
    Others 1986 26.3
    Occupation
    Census Count Percent(%)
    Infants/Primary 1198 25.5
    Secondary 1191 25.3
    Technical or Further Educational Institution 618 13.2
    University or other Tertiary Institutions 997 21.2
    Other type of educational institution 448 9.5
    Others 247 5.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 14669 77.2
    Flat, unit or apartment 2222 11.7
    Semi-detached, row or terrace house, townhouse 1964 10.3
    Caravan, cabin, houseboat 109 0.6
    House or flat attached to a shop, office 36 0.2
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 2265 37.1
    Fully owned 2248 36.8
    Being purchased 1479 24.2
    Other tenure type 113 1.9
    Tenure Type
Census 2011, ABS
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