Suburb Profile Report for Irymple VIC (3498)

Irymple House: Median price $400,000, Annual capital growth 6.98%, Number of sales 71, Weekly median advertised rent $380

  • 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

Irymple is in the TOP 10% in VIC when comparing median price capital growth over the last year. Irymple gave property investors a very good capital gain figure when compared to the rest of the state, with 25.96%.

When looking at the potential capital gains offered to property investors over the last 3 years, Irymple comes in at number 10th in VIC.

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 Irymple itself are offering an average vendor discount of -4.33% to real estate investors.

Using the current median advertised rental of $380 and the average annual increase in value of a median property of 6.98%, investors should hope to achieve an overall return of 4.94%

Information supplied by:


October 2018

M
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W
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Values fall

Postcode: 3498

Median house price: $277,762.5

Three-year growth: 20.8%

Rental yield: 6.0%

In far northwest Victoria, Irymple is a community-oriented rural suburb that appeals to families. Houses are very affordable here, adding to its appeal.

However, the suburb’s potential has been slipping, with prices falling by 2.5% in the 12 months to July 2018, and then by another 5.8% in the July 2018 quarter. Nonetheless, investors continue to enjoy strong returns of 6% of weekly rent rates of $320 on average. Moreover, houses spend only 55 days on the market.

Irymple is the site of several schools, such as Irymple Primary School, Irymple South Primary School, Irymple Secondary College and Mildura Christian College. There is also a strong emphasis on sports in this area – the local football and netball club plays in the Sunraysia league, and the suburb has a basketball association. There are also clubs for soccer, lawn bowls, bocce and swimming.

Metrics i HOUSE UNIT
$400,000 N/A
5.26% N/A
25.96% N/A
6.98% N/A
$380 N/A
71 N/A
4.94% N/A
52.2666666666667 N/A

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 : Very good (H), Above average (U)
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Demographics
Total population 5015
Median household income ($/weekly) 1014
Median age of persons 40
Median housing loan repayment ($/monthly) 1300
Average household size 2.7
  • Census Count Percent(%)
    5-14 years 834 16.6
    25-34 years 422 8.4
    35-44 years 735 14.7
    45-54 years 756 15.1
    55-64 years 638 12.7
    Others 1629 32.5
    Age Group
    Census Count Percent(%)
    Registered Married 1989 56.8
    Not Married 1255 35.8
    Defacto Relationship 257 7.3
    Social Marital Status
  • Census Count Percent(%)
    Australia 4421 91.7
    Japan 122 2.5
    Papua New Guinea 35 0.7
    United Kingdom 62 1.3
    Other 71 1.5
    Others 112 2.3
    Country of Birth
    Census Count Percent(%)
    Buddhism 16 0.3
    Christianity 3379 72.5
    Islam 17 0.4
    Other Religious Groups 11 0.2
    No Religion 1233 26.4
    Others 6 0.1
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 195 12.8
    $600-$799 186 12.2
    $800-$999 147 9.6
    $1,000-$1,249 162 10.6
    $1,500-$1,999 213 13.9
    Others 624 40.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1415 37.9
    Not in the labour force 1276 34.2
    Employed, worked part-time 797 21.4
    Employed, away from work 144 3.9
    Unemployed, looking for work 97 2.6
    Person Characteristics
  • Census Count Percent(%)
    Managers 353 15.0
    Professionals 316 13.4
    Technicians & trades workers 395 16.8
    Clerical & administrative workers 316 13.4
    Labourers 287 12.2
    Others 689 29.2
    Occupation
    Census Count Percent(%)
    Pre-school 94 7.3
    Infants/Primary 536 41.4
    Secondary 482 37.2
    Technical or Further Educational Institution 101 7.8
    University or other Tertiary Institutions 64 4.9
    Others 19 1.5
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4462 96.2
    Semi-detached, row or terrace house, townhouse 93 2.0
    Flat, unit or apartment 49 1.1
    Caravan, cabin, houseboat 33 0.7
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 749 44.5
    Fully owned 633 37.6
    Rented 291 17.3
    Other tenure type 12 0.7
    Tenure Type
Census 2011, ABS
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