Suburb Profile Report for Springvale South VIC (3172)

Springvale South House: Median price $745,000, Annual capital growth 8.38%, Number of sales 79, Weekly median advertised rent $390

Springvale South Unit: Median price $501,000, Annual capital growth 6.34%, Number of sales 41, Weekly median advertised rent $350

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

Source: CoreLogic

  • House Report
  • Unit Report

With a capital gain of 12.03% for the last 12 months, Springvale South, 3172 has performed for property investments than its average annual 8.38% property growth over the last 5 years.

When looking at the potential capital gains offered to property investors over the last 3 years, Springvale South comes in at number 185th in VIC.

Property investors looking for a bargain in Springvale South should be aiming for at least -3.45% off the asking price, which is the average vendor discount being achieved at the moment.

Residents and property investors in Springvale South have been waiting around 53.3 days to sell a property.

A $390 per week rent on the median house gives suburb investors a gross yield of circa 2.72%, without taking into account capital value appreciation, which has been averaging out at 8.38%.

At number 134th in the list of Australian suburbs ordered by increase in median house value over the last year, Springvale South, 3172 is in the top 10% with a property value increase of 20.72% recorded in median house prices.

When looking at the potential capital gains offered to property investors over the last 3 years, Springvale South comes in at number 45th in VIC.

Springvale South3172 is located in VIC which offers an average discount of -4.60% to property investors. Springvale South itself is showing figures that indicate -4.91% is the average achievable by property buyers investing in the suburb.

Residents and property investors in Springvale South have been waiting around 33.29 days to sell a property.

Metrics i HOUSE UNIT
$745,000 $501,000
0.68% 3.83%
12.03% 20.72%
8.38% 6.34%
$390 $350
79 41
2.72% 3.63%
53.3 33.29

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 12183
Median household income ($/weekly) 998
Median age of persons 34
Median housing loan repayment ($/monthly) 1517
Average household size 3.1
  • Census Count Percent(%)
    5-14 years 1555 12.8
    25-34 years 1918 15.7
    35-44 years 1638 13.4
    45-54 years 1616 13.3
    55-64 years 1353 11.1
    Others 4103 33.7
    Age Group
    Census Count Percent(%)
    Not Married 4445 48.1
    Registered Married 4403 47.6
    Defacto Relationship 402 4.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 4664 40.5
    Canada 1429 12.4
    Indonesia 496 4.3
    Viet Nam 2228 19.4
    Other 770 6.7
    Others 1916 16.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 4275 37.9
    Christianity 4543 40.3
    Islam 351 3.1
    Other Religious Groups 344 3.0
    No Religion 1579 14.0
    Others 188 1.7
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 404 12.2
    $600-$799 400 12.0
    $800-$999 368 11.1
    $1,000-$1,249 373 11.2
    $1,500-$1,999 421 12.7
    Others 1355 40.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 3877 41.6
    Employed, worked full-time 3150 33.8
    Employed, worked part-time 1450 15.6
    Unemployed, looking for work 494 5.3
    Employed, away from work 350 3.8
    Person Characteristics
  • Census Count Percent(%)
    Professionals 538 10.9
    Technicians & trades workers 756 15.3
    Clerical & administrative workers 582 11.8
    Machinery operators & drivers 723 14.6
    Labourers 986 19.9
    Others 1365 27.6
    Occupation
    Census Count Percent(%)
    Infants/Primary 883 29.5
    Secondary 937 31.3
    Technical or Further Educational Institution 294 9.8
    University or other Tertiary Institutions 536 17.9
    Other type of educational institution 179 6.0
    Others 162 5.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 9814 84.2
    Semi-detached, row or terrace house, townhouse 906 7.8
    Flat, unit or apartment 876 7.5
    Caravan, cabin, houseboat 53 0.5
    House or flat attached to a shop, office 12 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 1403 39.2
    Being purchased 1265 35.3
    Rented 890 24.8
    Other tenure type 25 0.7
    Tenure Type
Census 2011, ABS
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Recent sales & rentals