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Gardenvale, VIC 3185

Home » VIC Real Estate Data » Glen Eira City, VIC » Gardenvale, VIC 3185

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 Gardenvale, VIC 3185 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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Yield 

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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 “Gardenvale, VIC 3185”

  1. The total adult population (15 years or older) of Gardenvale 3185 VIC is 842, with a median age of 39. Of those, 38.72% are married, 12.95% are divorced or separated, 44.06% are single and 4.39% are widowed.

    The average household size is 2.1 people per dwelling, and the median household monthly income is estimated to be $13,196. The median monthly mortgage repayment for households in this suburb is $2,953 which is 22.38% of their earnings.

    Source: ABS Census Data (2021)

  2. Gardenvale, postcode 3185, is a suburb situated in the state of Victoria, home to an estimated 593 households. As we navigate through the third quarter of the 2023 property calendar, the typical house prices in this suburb have been observed at a hefty $2,243,285. These houses fetch median weekly rents of $1,550, allowing for an indicative yield of about 3.6% for investors – a value that meets the attractive market requirement for cashflow-centered property investors.

    In the big picture of social-economic landscape, Gardenvale holds its own with an impressive IRSAD score of 1094 out of a possible 1217, pointing to a high standard of living and good access to economic resources among its residents. However, this suburb seems to sit on the scales evenly in terms of property composition, with a near 50-50 distribution of units to houses (49% units).

    A higher-than-preferred renter to owner ratio of 47% is observed, indicating a considerable amount of rented properties in this market. This raises some concern for potential investors due to the negative effects on the overall appeal of the neighbourhood and risk of high competition in attracting tenants.

    Gardenvale also faces challenging affordability factors; indicative by an affordability index of 66 years for houses, indicating that potential homeowners would need to pay off a standard 30-year mortgage over 66 years to fully own a property here.

    The suburb’s property market shows a moderate level of supply, as illustrated by a Stock-On-Market Percentage of 0.79% and an inventory level of about 3.0 months for houses. The building approvals ratio is practically zero, signifying very few new residential developments being approved for construction.

    In terms of demand, Gardenvale shows promising prospects with houses averaging only 22 days on the market before selling, highlighting a high market demand. The combined vacancy rate for houses and units stands at 1.08%, further emphasising the demand for properties in the area. However, the buy search index of 3, which is below the state/city average, indicates limited demand for buying property in this suburb.

    In summary, Gardenvale, 3185, exhibits a mix of favourable and somewhat challenging characteristics for potential investors or homebuyers. A high socio-economic score, attractive yields, and high property demand contrast with the high renter to owner ratio and challenging affordability. Therefore, a savvy investor should carefully consider these factors and trends to make an informed investment decision. It is also a good idea to refer to a detailed dashboard showcasing these trends, and make use of tools like the Relative Composite Score (RCS) from HtAG Analytics that provide a comprehensive understanding of the market based on over 80 indicators.

    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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