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Parkville, VIC 3052

Home » VIC Real Estate Data » Melbourne City, VIC » Parkville, VIC 3052

If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Parkville, VIC 3052 located in Melbourne to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

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Rent 

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Yield 

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Buy 

1BR

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Rent 

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Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “Parkville, VIC 3052”

  1. The total adult population (15 years or older) of Parkville 3052 VIC is 6,604, with a median age of 26. Of those, 19.91% are married, 5.39% are divorced or separated, 72.29% are single and 2.45% are widowed.

    The average household size is 2.1 people per dwelling, and the median household monthly income is estimated to be $10,268. The median monthly mortgage repayment for households in this suburb is $2,000 which is 19.48% of their earnings.

    Source: ABS Census Data (2021)

  2. Nestled in the beautiful region of Victoria, the suburb of PARKVILLE 3052 is home to approximately 3,275 households. As the Q3 of 2023 unfolds, property investors can expect typical house prices in PARKVILLE to stand at a healthy $2,024,595. The median weekly rent here is recorded to be $879, which, when paired with the house prices, suggests an indicative yield of 2.26%.

    Navigating through the socio-economic landscape, PARKVILLE posts an IRSAD score of 1102 out of a possible 1217, indicative of the upscale social status of this area and the high level of resources and opportunities available. However, the high renter to owner ratio at 71% signals an area heavily occupied by renters, which might contribute to increased competition among investors and the possible nuances of a transient population.

    When delving into the property dynamics, the suburb reflects a units to houses ratio of 66%, suggesting a higher proportion of units in comparison to houses which could potentially affect the rental competition and market stability.

    Affordability being an essential aspect of property investment cannot be undermined. In PARKVILLE, the affordability index for houses is estimated at 77 years, a figure which veers towards the higher end, hence signalling possible hurdles in homeownership.

    Supply metrics further reveal that the stock on the market percentage for houses is at 1.27%, lying within the neutral range, while the inventory level stretches to 6.67 months, signifying a high supply market that could affect investment returns.

    Meanwhile, with a building approvals ratio for houses at 0.0%, there’s no significant influx of new properties into market, indicating a stagnant supply of new homes.

    On the brighter side, the average number of days on the market for houses in PARKVILLE is at 24, revealing the robust demand in this region. Similarly, the vacancy rate combining both houses and units stands at a balanced 1.51%, reflecting a favourable market for property investors.

    However, it’s important to cast an eye on the buy search index for houses, which stands at 3, and can signify a neutral demand.

    While these figures narrate the tale of PARKVILLE’s property market, it’s critical to track the market trends and vigilantly identify the potential investment opportunities. Consideration of factors like RCS (Relative Composite Score) can offer comprehensive insights to streamline the decision-making process for property investors.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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