Suburb Profile Report for Springvale South VIC (3172)

Springvale South House: Median price $720,000, Annual capital growth 7.88%, Number of sales 75, Weekly median advertised rent $392

Springvale South Unit: Median price $533,888, Annual capital growth 7.48%, Number of sales 37, Weekly median advertised rent $350

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

Springvale South is in the bottom 40% in VIC when comparing median price capital growth over the last year. Springvale South gave property investors a disappointing capital gain figure when compared to the rest of the state, with 0.00%.

The five-year average increase in median property values for Springvale South,3172 has given property investors a potential capital gain of 69.81% across each of those five years.

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Springvale South, 3172. Typically our figures indicate that -8.62% is being offered, which puts this VIC suburb at 1103th most discounted overall in Australia.

At number 1459 in a list of fastest selling suburbs, Springvale South is in the TOP 40% of suburbs in Australia with an average of days on market 57.53 for properties listed there.

Using the current median advertised rental of $392 and the average annual increase in value of a median property of 7.88%, investors should hope to achieve an overall return of 2.83%

Springvale South is in the TOP 10% in VIC when comparing median price capital growth over the last year. Springvale South gave property investors a very good capital gain figure when compared to the rest of the state, with 19.44%.

Springvale South,3172 has offered an average of 19.44% return per annum in house price rises to property investors over the last three years.

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Springvale South, 3172. Typically our figures indicate that 0.00% is being offered, which puts this VIC suburb at 1460th most discounted overall in Australia.

Springvale South is 292th on a list of best yielding suburbs for rents in VIC with a 3.41% return

Information supplied by:


September 2018

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24km from the Melbourne CBD, the suburb of Springvale South has seen steadfast growth since 2013, and shows no signs of letting up any time soonFull summary

Numbers go up

Postcode: 3172

Median unit price: $500,000

Three-year growth: 44.7%

Rental yield: 3.6%

24km from the Melbourne CBD, the suburb of Springvale South has seen steadfast growth since 2013, and shows no signs of letting up any time soon.

In the three months to June 2018, unit values spiked by 10.4%, bringing the median price to $500,000 at an average annual growth rate of 6.1%. There is high demand for apartments in this area, as evidenced by how those on the market are snapped up in less than a month on average.

Springvale South is part of the LGA of the City of Greater Dandenong, and is the location of Springvale South Primary School, Spring Parks Primary School, Heatherhill Primary School and Keysborough Secondary College. Springvale South is the immediate neighbour of Springville in the south, and is a food-lover’s dream, given the many available dining options in the area.

Close
Metrics i HOUSE UNIT
$720,000 $533,888
-3.61% 3.67%
0.00% 19.44%
7.88% 7.48%
$392 $350
75 37
2.83% 3.41%
57.53 16

Source: CoreLogic

Disclaimer: The data presented here is the latest available data at the time of upload each month. Please note that data is routinely updated by our partners, so may change month to month.

DSR Score for property investment : Above average (H), Good (U)
Find a mortgage broker in Springvale South VIC
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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