Suburb Profile Report for Skye VIC (3977)

Skye House: Median price $600,000, Annual capital growth 6.00%, Number of sales 121, Weekly median advertised rent $450

Skye Unit: Median price $445,000, Annual capital growth 8.82%, Number of sales 19, Weekly median advertised rent $375

  • 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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If you compare the increase in value of investment property in Skye, 3977 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this VIC suburb was -1.32%.

Skye,3977 has offered an average of -1.32% return per annum in house price rises to property investors over the last three years.

At number 314th of VIC’s most discounted properties, Skye is in the middle of the state/territory when listing in order of most discounted to least.

Using the current median advertised rental of $450 and the average annual increase in value of a median property of 6.00%, investors should hope to achieve an overall return of 3.90%

Skye, 3977 ranked 289th in VIC when comparing growth in median property values or capital gain over the last 12 months. Skye is one of 2099 in our list for VIC

Skye,3977 has offered an average of -3.00% return per annum in house price rises to property investors over the last three years.

In the last year 19 properties changed hands in Skye, which puts it as the 304th most active market in VIC when comparing the number of sales per suburb.

Using the current median advertised rental of $375 and the average annual increase in value of a median property of 8.82%, investors should hope to achieve an overall return of 4.38%

Information supplied by:


August 2017

M
O

W
E

Housing market is alive in sleepy suburb

Postcode: 3977

Median house price: $515,000

Three-year growth: 29.40%

Rental yield: 3.84%

Situated in the outer ring of Melbourne, the suburb of Skye is a rural haven for its residents.

Despite being crowned the most unliveable suburb in Melbourne in 2015 by Tract Consultants and Deloitte Access Economics, the suburb has not just been getting by – it is advancing significantly in Victoria’s housing market. In the previous year leading up to May 2017, house prices soared by 17.34% to pass the $500,000 mark. Even with this boost, vendors enjoy quick sales (houses spend an average of just 28 days on the market) at low discount rates.

Having been around for over 140 years, Skye boasts a historic heritage; for instance, Skye Primary School has been around since 1873. There is resistance to the idea of developing Skye further, given its rare unspoiled beauty, but the suburb does benefit from being close to the city of Frankston.

 

Metrics i HOUSE UNIT
$600,000 $445,000
0.42% 0.00%
-1.32% -3.00%
6.00% 8.82%
$450 $375
121 19
3.90% 4.38%
45.7529411764706 87.5625

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 : Good (H), Above average (U)
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Demographics
Total population 7484
Median household income ($/weekly) 1474
Median age of persons 31
Median housing loan repayment ($/monthly) 1733
Average household size 3.1
  • Census Count Percent(%)
    0-4 years 616 8.2
    5-14 years 1287 17.2
    25-34 years 1180 15.8
    35-44 years 1324 17.7
    45-54 years 1032 13.8
    Others 2045 27.3
    Age Group
    Census Count Percent(%)
    Registered Married 2710 51.3
    Not Married 1929 36.5
    Defacto Relationship 644 12.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 5535 76.9
    Papua New Guinea 212 2.9
    Philippines 112 1.6
    United Kingdom 457 6.4
    Other 270 3.8
    Others 607 8.4
    Country of Birth
    Census Count Percent(%)
    Buddhism 94 1.4
    Christianity 4333 63.6
    Hinduism 109 1.6
    Islam 142 2.1
    No Religion 2087 30.6
    Others 51 0.7
    Religious Affiliation
  • Census Count Percent(%)
    $1,000-$1,249 231 10.8
    $1,250-$1,499 226 10.5
    $1,500-$1,999 398 18.6
    $2,000-$2,499 302 14.1
    $2,500-$2,999 185 8.6
    Others 802 37.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2578 48.0
    Not in the labour force 1306 24.3
    Employed, worked part-time 1075 20.0
    Employed, away from work 224 4.2
    Unemployed, looking for work 189 3.5
    Person Characteristics
  • Census Count Percent(%)
    Professionals 467 12.0
    Technicians & trades workers 706 18.2
    Clerical & administrative workers 637 16.4
    Sales 409 10.5
    Labourers 462 11.9
    Others 1201 30.9
    Occupation
    Census Count Percent(%)
    Pre-school 168 8.3
    Infants/Primary 858 42.3
    Secondary 588 29.0
    Technical or Further Educational Institution 206 10.2
    University or other Tertiary Institutions 158 7.8
    Others 50 2.5
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 6976 96.4
    Flat, unit or apartment 137 1.9
    Semi-detached, row or terrace house, townhouse 122 1.7
    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 1543 65.5
    Rented 401 17.0
    Fully owned 388 16.5
    Other tenure type 22 0.9
    Tenure Type
Census 2011, ABS
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