Suburb Profile Report for Springvale VIC (3171)

Springvale House: Median price $762,500, Annual capital growth 8.44%, Number of sales 132, Weekly median advertised rent $380

Springvale Unit: Median price $520,000, Annual capital growth 7.42%, Number of sales 116, Weekly median advertised rent $365

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

Source: CoreLogic

  • House Report
  • Unit Report

Giving property investors a an average capital gain of 4.45% for the last year, Springvale, 3171 is the 2003th highest performer in Australia in this respect.

Springvale,3171 was ranked 2729 in Australia by increase in median property value over the quarter.

Property buyers and investors in Springvale 3171 should be seeing an average reduction in asking price of around -6.03% . This means that Springvale is holding prices well when compared to other suburbs in VIC.

Using the current median advertised rental of $380 and the average annual increase in value of a median property of 8.44%, investors should hope to achieve an overall return of 2.59%

Investment property in Springvale has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 10.87%

The five-year average increase in median property values for Springvale,3171 has given property investors a potential capital gain of 48.57% across each of those five years.

Springvale, 3171 is offering VIC ‘s 10th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 10% of discounts offered by this VIC.

In the last year 116 properties changed hands in Springvale, which puts it as the 67th most active market in VIC when comparing the number of sales per suburb.

Springvale, 3171’s gross rental yield is 3.65%

Metrics i HOUSE UNIT
$762,500 $520,000
-0.97% -3.08%
4.45% 10.87%
8.44% 7.42%
$380 $365
132 116
2.59% 3.65%
46.4 64.28

Source: CoreLogic

DSR Score for property investment : Above average (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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