Suburb Profile Report for Patterson Lakes VIC (3197)

Patterson Lakes House: Median price $890,000, Annual capital growth 6.79%, Number of sales 101, Weekly median advertised rent $575

Patterson Lakes Unit: Median price $585,000, Annual capital growth 5.46%, Number of sales 37, Weekly median advertised rent $440

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

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

Investment property in Patterson Lakes has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -8.25%

If we look at median property appreciation over just the last three months, Patterson Lakes has given property investors a paper return of -3.58%. This puts Suburb as 613 on a list of fastest fasting appreciating suburbs in VIC

Sellers are offering property buyers an average discount of -8.57% to buyers in Patterson Lakes at the moment, which is less than average for the rest of VIC.

Property investors should expect to get $575 weekly from the median priced house in this suburb.

Property value increases in Patterson Lakes have tracked close to the VIC average of 0.68% over the last 12 months.

Over the longer term, Patterson Lakes has seen property prices show investors a 23.16% return over the last 3 years. This is worse than over the last 12 months

Sellers are offering property buyers an average discount of -8.47% to buyers in Patterson Lakes at the moment, which is less than average for the rest of VIC.

Renters in Suburb are facing rents around $22880 per annum or $440 every week.

Metrics i HOUSE UNIT
$890,000 $585,000
-3.58% -4.88%
-8.25% 0.86%
6.79% 5.46%
$575 $440
101 37
3.36% 3.91%
76.2352941176471 134.931034482759

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. 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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