Suburb Profile Report for Gardenvale VIC (3185)

Gardenvale House: Median price $1,767,500, Annual capital growth -1.22%, Number of sales 12, Weekly median advertised rent N/A

Gardenvale Unit: Median price $696,500, Annual capital growth 1.95%, Number of sales 10, Weekly median advertised rent $313

House
Unit

Source: CoreLogic RP Data

Median price
Number of sales

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

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Gardenvale, 3185 ranked 47th in VIC when comparing growth in median property values or capital gain over the last 12 months. Gardenvale is one of 2099 in our list for VIC

In the last year 10 properties changed hands in Gardenvale, which puts it as the 372th most active market in VIC when comparing the number of sales per suburb.

A $312.5 per week rent on the median house gives suburb investors a gross yield of circa 2.33%, without taking into account capital value appreciation, which has been averaging out at 1.95%.

Information supplied by:

YIP MAG
March 2016

M
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While Melbourne has recently been performing strongly, suburbs like Gardenvale show there are still some bargains to be found by investors who do a bit of looking.

The median unit price in the southeastern suburb currently sits at $315,000 and soon could become even more affordable if recent trends are anything to go by.

Over the past five years the median has fallen by 11%, and it is down 37% over the past 12 months.

While units in Gardenvale aren’t currently offering the best returns in terms of capital growth, the suburb provides a respectable rental yield of 5%.

Gardenvale’s location also means landlords will likely find it relatively easy to find tenants.

The suburb is only 10km from the Melbourne CBD, which is easy to access from the Gardenvale train station.

The nearby suburbs of Brighton and Caulfield South offer a range of primary and secondary schools, while the famous Caulfield Racecourse is also in the area.

Metrics	HOUSE	UNIT
Median price	$1,767,500	$696,500
Quarterly growth	5.77%	0.00%
12-month growth	17.83%	N/A
Average Annual Growth	-1.22%	1.95%
Weekly median advertised rent	N/A	$313
Number of sales	12	10
Gross rental yield	N/A	2.33%
Days on market	N/A	N/A

DSR Score for property investment : Above average (H), Balanced (U)

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Demographics

Total population	971
Median household income ($/weekly)	1292
Median age of persons	37
Median housing loan repayment ($/monthly)	2500
Average household size	2.1

Census	Count	Percent(%)
5-14 years	101	10.4
25-34 years	214	22.1
35-44 years	154	15.9
45-54 years	130	13.4
55-64 years	116	12.0
Others	254	26.2

Age Group

Census	Count	Percent(%)
Not Married	331	45.5
Registered Married	312	42.9
Defacto Relationship	85	11.7

Social Marital Status

Census	Count	Percent(%)
Australia	608	65.7
Croatia	18	1.9
Indonesia	42	4.5
United Kingdom	49	5.3
Other	88	9.5
Others	121	13.1

Country of Birth

Census	Count	Percent(%)
Buddhism	21	2.4
Christianity	466	53.1
Hinduism	43	4.9
Judaism	82	9.4
No Religion	259	29.5
Others	6	0.7

Religious Affiliation

Census	Count	Percent(%)
$400-$599	46	11.5
$800-$999	43	10.8
$1,000-$1,249	39	9.8
$1,500-$1,999	40	10.0
$2,500-$2,999	41	10.3
Others	191	47.8

Gross Household Income (Weekly)

Census	Count	Percent(%)
Employed, worked full-time	374	48.6
Not in the labour force	182	23.6
Employed, worked part-time	161	20.9
Unemployed, looking for work	27	3.5
Employed, away from work	26	3.4

Person Characteristics

Census	Count	Percent(%)
Managers	87	15.4
Professionals	191	33.8
Community & personal service workers	54	9.6
Clerical & administrative workers	89	15.8
Sales	54	9.6
Others	90	15.9

Occupation

Census	Count	Percent(%)
Pre-school	15	6.9
Infants/Primary	80	36.7
Secondary	33	15.1
Technical or Further Educational Institution	14	6.4
University or other Tertiary Institutions	62	28.4
Others	14	6.4

Type of Educational Institution Attending

Census	Count	Percent(%)
Separate house	477	53.4
Flat, unit or apartment	309	34.6
Semi-detached, row or terrace house, townhouse	107	12.0
Caravan, cabin, houseboat	0	0.0
Improvised home, tent, sleepers out	0	0.0
Others	0	0.0