Suburb Profile Report for Patterson Lakes VIC (3197)

Patterson Lakes House: Median price $896,000, Annual capital growth 5.93%, Number of sales 104, Weekly median advertised rent $530

Patterson Lakes Unit: Median price $532,500, Annual capital growth 4.92%, Number of sales 67, Weekly median advertised rent $410

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

Source: CoreLogic

  • House Report
  • Unit Report

Patterson Lakes has had a quite poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of 4.80% to date .

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Patterson Lakes has increased when compared to the 5 year average annual rate.

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 Patterson Lakes, 3197. Typically our figures indicate that -3.91% is being offered, which puts this VIC suburb at 3161th most discounted overall in Australia.

Often selling an investment property can take time, and in Patterson Lakes the average time real estate has been on the market is 35.69 days.

Patterson Lakes, 3197’s gross rental yield is 3.08%

VIC has seen average median house prices change by 8.22% which means that Patterson Lakes, 3197 has done well for property investors by showing a capital gain of 13.90% over the last year

If we look at median property appreciation over just the last three months, Patterson Lakes has given property investors a paper return of 1.43%. This puts Suburb as 194 on a list of fastest fasting appreciating suburbs in VIC

Property investors looking for a bargain in Patterson Lakes should be aiming for at least -3.55% off the asking price, which is the average vendor discount being achieved at the moment.

Residents and property investors in Patterson Lakes have been waiting around 39.8 days to sell a property.

Metrics i HOUSE UNIT
$896,000 $532,500
0.11% 1.43%
4.80% 13.90%
5.93% 4.92%
$530 $410
104 67
3.08% 4.00%
35.69 39.8

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
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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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