Suburb Profile Report for Patterson Lakes VIC (3197)

Patterson Lakes House: Median price $915,000, Annual capital growth 6.06%, Number of sales 120, Weekly median advertised rent $573

Patterson Lakes Unit: Median price $587,500, Annual capital growth 4.80%, Number of sales 56, Weekly median advertised rent $420

  • 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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  • House Report
  • Unit Report

VIC has seen average median house prices change by 2.87% which means that Patterson Lakes, 3197 has done well for property investors by showing a capital gain of -4.19% over the last year

Comparing Patterson Lakes,3197 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.51% offered to property buyers. Sellers in Patterson Lakes itself are offering an average vendor discount of -8.38% to real estate investors.

On average over the past year, suburb has had 10.00 sales per month, which equates to 120 per year.

If you compare the increase in value of investment property in Patterson Lakes, 3197 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was -6.00%.

Comparing Patterson Lakes,3197 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

Property investors looking for a bargain in Patterson Lakes should be aiming for at least -9.54% off the asking price, which is the average vendor discount being achieved at the moment.

In the last year 56 properties changed hands in Patterson Lakes, which puts it as the 147th most active market in VIC when comparing the number of sales per suburb.

Information supplied by:




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Patterson Lakes, VIC – Amenities and sports clubs galore

Postcode: 3197

Median unit price: $585,000

Three-year growth: 23.2%

Rental yield: 3.9%

A canal suburb 35km southeast of the Melbourne CBD, Patterson Lakes has the arguably the best boat-launching facilities in the state, with the Patterson River being a well-known portal for Port Phillip, with the Patterson Lakes Tidal Canal system linked to Port Phillip via the river.

The suburb was developed in 1973 as a ‘back door’ to Port Phillip. At present, it is served by several shopping centres, such as Lakeview Shopping Centre, Harbour Plaza Shopping Town and Gladesville Shopping Centre. Sports activity thrives in Patterson Lakes, where there are several sports clubs. The suburb therefore holds to consistent growth, with an average annual growth rate of 5.2%.

Metrics i HOUSE UNIT
$915,000 $587,500
1.67% 0.43%
-4.19% -6.00%
6.06% 4.80%
$573 $420
120 56
3.25% 3.72%
65.7105263157895 113.434782608696

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.

DSR Score for property investment : Above average (H), Above average (U)
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Demographics
Total population 7582
Median household income ($/weekly) 1420
Median age of persons 41
Median housing loan repayment ($/monthly) 2000
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 930 12.3
    25-34 years 769 10.1
    35-44 years 1151 15.2
    45-54 years 1205 15.9
    55-64 years 1079 14.2
    Others 2449 32.3
    Age Group
    Census Count Percent(%)
    Registered Married 3044 53.0
    Not Married 2163 37.7
    Defacto Relationship 533 9.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 5259 73.5
    Croatia 83 1.2
    Papua New Guinea 121 1.7
    United Kingdom 475 6.6
    Other 298 4.2
    Others 919 12.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 175 2.5
    Christianity 4861 70.0
    Hinduism 68 1.0
    Islam 100 1.4
    No Religion 1707 24.6
    Others 37 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 247 9.7
    $800-$999 237 9.3
    $1,500-$1,999 309 12.2
    $2,000-$2,499 272 10.7
    $2,500-$2,999 272 10.7
    Others 1203 47.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2560 43.3
    Not in the labour force 1841 31.2
    Employed, worked part-time 1098 18.6
    Employed, away from work 224 3.8
    Unemployed, looking for work 184 3.1
    Person Characteristics
  • Census Count Percent(%)
    Managers 673 17.3
    Professionals 734 18.9
    Technicians & trades workers 586 15.1
    Clerical & administrative workers 678 17.5
    Sales 409 10.5
    Others 802 20.7
    Occupation
    Census Count Percent(%)
    Pre-school 137 8.3
    Infants/Primary 562 34.1
    Secondary 517 31.4
    Technical or Further Educational Institution 151 9.2
    University or other Tertiary Institutions 238 14.4
    Others 44 2.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 5168 72.4
    Semi-detached, row or terrace house, townhouse 1377 19.3
    Flat, unit or apartment 590 8.3
    House or flat attached to a shop, office 3 0.0
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1172 42.9
    Fully owned 1059 38.8
    Rented 442 16.2
    Other tenure type 57 2.1
    Tenure Type
Census 2011, ABS
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