Suburb Profile Report for Springvale VIC (3171)

Springvale House: Median price $710,000, Annual capital growth 6.88%, Number of sales 100, Weekly median advertised rent $385

Springvale Unit: Median price $543,000, Annual capital growth 7.15%, Number of sales 41, Weekly median advertised rent $375

  • 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.

  • House Report
  • Unit Report

Springvale is in the bottom 40% in VIC when comparing median price capital growth over the last year. Springvale gave property investors a disappointing capital gain figure when compared to the rest of the state, with -7.79%.

Springvale,3171 has offered an average of -7.79% return per annum in house price rises to property investors over the last three years.

Property buyers and investors in Springvale 3171 should be seeing an average reduction in asking price of around -7.60% . This means that Springvale is holding prices well when compared to other suburbs in VIC.

At number 2078 in a list of fastest selling suburbs, Springvale is just in the bottom half of suburbs in Australia with an average of days on market 82.4925 for properties listed there.

Property investors who have had real estate in Springvale, 3171 should be ok 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 -0.18%

Taking the average capital gain, or increase in median house value, Springvale,3171 has racked up an average of -0.18% over the period. This ranks it number 125th in the whole country for real estate investors looking at median house price increases.

Springvale3171 is located in VIC which offers an average discount of -6.31% to property investors. Springvale itself is showing figures that indicate -12.95% is the average achievable by property buyers investing in the suburb.

Metrics i HOUSE UNIT
$710,000 $543,000
-1.39% -0.09%
-7.79% -0.18%
6.88% 7.15%
$385 $375
100 41
2.82% 3.59%
82.4925373134328 103.585365853659

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 : Balanced (H), Above average (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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