Suburb Profile Report for Grovedale VIC (3216)

Grovedale House: Median price $420,000, Annual capital growth 4.71%, Number of sales 252, Weekly median advertised rent $365

Grovedale Unit: Median price $330,000, Annual capital growth 4.49%, Number of sales 38, Weekly median advertised rent $295

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Investment property in Grovedale has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 7.69%

Over the longer term, Grovedale has seen property prices show investors a 17.32% return over the last 3 years. This is worse than over the last 12 months

At number 84th of VIC’s most discounted properties, Grovedale is in the TOP 10% of the state/territory when listing in order of most discounted to least.

Residents and property investors in Grovedale have been waiting around 5.9 days to sell a property.

Advertised rents are around the $365 mark per week – giving a return of 4.52% based on the median price in Suburb

Grovedale is an average performer in VIC when comparing median price capital growth over the last year. Grovedale gave property investors a good capital gain figure when compared to the rest of the state, with 11.30%.

Comparing Grovedale,3216 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

In the last year 38 properties changed hands in Grovedale, which puts it as the 220th most active market in VIC when comparing the number of sales per suburb.

With the median price for a house in Grovedale being $330000 and the advertised rent reaching $295 the gross rental yield for property investors calculates out to be 4.65%

Information supplied by:


July 2017

M
O

W
E
Grovedale has attracted strong interest from investors, in large part due to its high average returns of over 5%, which suggests a strong rental market.Full summary

Former Germantown draws interest from student body
Median unit price: $299,000
Three-year growth: 2.66%
Rental yield: 5.22%

The residential suburb of Grovedale has appealed to investors for many years, with its high average returns of over 5% suggesting a strong rental market. In the past year up to April 2017, apartment values jumped by nearly 11%.

This trend has continued into the April 2017 quarter, indicating that the suburb has long-term potential. Units go off the market at low discount rates as well. This is likely because of the demand from students at Deakin University.

Grovedale is quite accessible due to its location on the Surfcoast Highway, in addition to being less than 10 minutes from Torquay. The Surf Coast itself is a short drive away. The suburb is affordable as well, with the median unit price coming in at under $300,000. 

Close
Metrics i HOUSE UNIT
$420,000 $330,000
2.44% 3.13%
7.69% 11.30%
4.71% 4.49%
$365 $295
252 38
4.52% 4.65%
5.9 N/A

Source: CoreLogic

DSR Score for property investment : Very good (H), Good (U)
Find a mortgage broker in Grovedale VIC
Demographics
Total population 14153
Median household income ($/weekly) 1133
Median age of persons 38
Median housing loan repayment ($/monthly) 1517
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 1706 12.1
    25-34 years 2010 14.2
    35-44 years 1797 12.7
    45-54 years 1751 12.4
    55-64 years 1714 12.1
    Others 5174 36.6
    Age Group
    Census Count Percent(%)
    Registered Married 5436 51.9
    Not Married 4136 39.5
    Defacto Relationship 894 8.5
    Social Marital Status
  • Census Count Percent(%)
    Australia 11811 86.5
    New Zealand 98 0.7
    Papua New Guinea 132 1.0
    United Kingdom 682 5.0
    Other 226 1.7
    Others 703 5.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 91 0.7
    Christianity 9276 71.0
    Hinduism 77 0.6
    Islam 61 0.5
    No Religion 3498 26.8
    Others 64 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 570 11.8
    $600-$799 528 11.0
    $1,000-$1,249 500 10.4
    $1,500-$1,999 658 13.7
    $2,000-$2,499 528 11.0
    Others 2027 42.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 4121 36.8
    Employed, worked full-time 3978 35.5
    Employed, worked part-time 2354 21.0
    Employed, away from work 437 3.9
    Unemployed, looking for work 316 2.8
    Person Characteristics
  • Census Count Percent(%)
    Professionals 1183 17.5
    Technicians & trades workers 1162 17.2
    Community & personal service workers 866 12.8
    Clerical & administrative workers 926 13.7
    Sales 818 12.1
    Others 1812 26.8
    Occupation
    Census Count Percent(%)
    Pre-school 209 6.4
    Infants/Primary 1118 34.3
    Secondary 896 27.5
    Technical or Further Educational Institution 364 11.2
    University or other Tertiary Institutions 538 16.5
    Others 135 4.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 12072 91.5
    Flat, unit or apartment 605 4.6
    Semi-detached, row or terrace house, townhouse 519 3.9
    House or flat attached to a shop, office 4 0.0
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 2088 40.4
    Fully owned 1848 35.7
    Rented 1139 22.0
    Other tenure type 95 1.8
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals