Suburb Profile Report for Olinda VIC (3788)

Olinda House: Median price $676,000, Annual capital growth 7.07%, Number of sales 29, Weekly median advertised rent $480

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

Source: CoreLogic

  • House Report
  • Expert Report

With a capital gain of 2.41% for the last 12 months, Olinda, 3788 has performed for property investments than its average annual 7.07% property growth over the last 5 years.

Taking the average capital gain, or increase in median house value, Olinda,3788 has racked up an average of 2.41% over the period. This ranks it number 1659th in the whole country for real estate investors looking at median house price increases.

State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.04% offered to property buyers. Sellers in Olinda itself are offering an average vendor discount of -3.98% to real estate investors.

Often selling an investment property can take time, and in Olinda the average time real estate has been on the market is 45.77 days.

Using the current median advertised rental of $480 and the average annual increase in value of a median property of 7.07%, investors should hope to achieve an overall return of 3.69%

Information supplied by:


August 2017

M
O

W
E
The median house price has passed $650,000, following over 20% growth over the past 12 months leading up to May 2017.Full summary

Cultural hub records rising value

Postcode: 3788

Median house price: $652,500

Three-year growth: 31.55%

Rental yield: 3.67%

Named for the creek which originates in this suburb, Olinda is enjoying an active, thriving housing market. 

The median house price has passed $650,000, following over 20% growth over the past 12 months leading up to May 2017. Properties fly off the shelves, spending an average of just 35 days on the market, with the average discount rate not even reaching 5%.

Olinda is small, but packed with culture – it is home to cafes, restaurants and antique and craft stores. Art galleries highlight the works of artists ranging from the local to the international. The suburb also cherishes flora, with the National Rhododendron Garden and the Olinda State Forest being located here.

Olinda is only about an hour’s drive from the Melbourne CBD via the M1.

Close
Metrics i HOUSE UNIT
$676,000 N/A
-1.02% N/A
2.41% N/A
7.07% N/A
$480 N/A
29 N/A
3.69% N/A
45.77 N/A

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
Find a mortgage broker in Olinda VIC
Demographics
Total population 1663
Median household income ($/weekly) 1418
Median age of persons 42
Median housing loan repayment ($/monthly) 1800
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 203 12.2
    25-34 years 162 9.7
    35-44 years 265 15.9
    45-54 years 262 15.7
    55-64 years 333 20.0
    Others 439 26.4
    Age Group
    Census Count Percent(%)
    Registered Married 666 53.7
    Not Married 420 33.9
    Defacto Relationship 154 12.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 1283 80.5
    New Zealand 21 1.3
    Papua New Guinea 23 1.4
    United Kingdom 139 8.7
    Other 45 2.8
    Others 83 5.2
    Country of Birth
    Census Count Percent(%)
    Buddhism 42 2.8
    Christianity 775 51.3
    Islam 6 0.4
    Other Religious Groups 32 2.1
    No Religion 649 43.0
    Others 6 0.4
    Religious Affiliation
  • Census Count Percent(%)
    $600-$799 62 10.6
    $1,250-$1,499 55 9.4
    $1,500-$1,999 82 14.0
    $2,000-$2,499 52 8.9
    $2,500-$2,999 70 12.0
    Others 263 45.0
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 526 40.4
    Not in the labour force 366 28.1
    Employed, worked part-time 321 24.7
    Employed, away from work 48 3.7
    Unemployed, looking for work 40 3.1
    Person Characteristics
  • Census Count Percent(%)
    Managers 157 17.5
    Professionals 248 27.7
    Technicians & trades workers 121 13.5
    Community & personal service workers 91 10.2
    Clerical & administrative workers 114 12.7
    Others 164 18.3
    Occupation
    Census Count Percent(%)
    Pre-school 35 9.3
    Infants/Primary 136 36.3
    Secondary 89 23.7
    Technical or Further Educational Institution 41 10.9
    University or other Tertiary Institutions 65 17.3
    Others 9 2.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1523 97.2
    Flat, unit or apartment 22 1.4
    Semi-detached, row or terrace house, townhouse 19 1.2
    House or flat attached to a shop, office 3 0.2
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 299 48.0
    Fully owned 236 37.9
    Rented 82 13.2
    Other tenure type 6 1.0
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals