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Murrumbeena, VIC 3163

Home » VIC Real Estate Data » Glen Eira City, VIC » Murrumbeena, VIC 3163

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 Murrumbeena, VIC 3163 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.

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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 “Murrumbeena, VIC 3163”

  1. The total adult population (15 years or older) of Murrumbeena 3163 VIC is 8,375, with a median age of 37. Of those, 46.72% are married, 9.11% are divorced or separated, 40.36% are single and 3.93% are widowed.

    The average household size is 2.4 people per dwelling, and the median household monthly income is estimated to be $11,068. The median monthly mortgage repayment for households in this suburb is $2,167 which is 19.58% of their earnings.

    Source: ABS Census Data (2021)

  2. Nestled comfortably within the state of VIC, the suburb of MURRUMBEENA 3163 is a domestic hive hosting an estimated 5,026 households. The typical house prices are significantly high, standing at an impressive $1,794,653 all through the third quarter of 2023. Further, these houses bring in a median weekly rent of $658, giving landlords an indicative yield of 1.91%, somewhat below the market appeal value of 3%. The socio-economic bar has been lifted much higher in MURRUMBEENA 3163, with an IRSAD score of 1096 out of 1217. This high score suggests that the suburb hosts individuals with a comfortable financial standing and access to varied resources.

    MURRUMBEENA 3163 presents a renter to owner ratio of 36%, indicating somewhat saturated rental market, and a units to houses ratio of 52%, which is above the favorable range since units over-saturate the market with rentals. However, this detail, while crucial, might be dwarfed by the suburb’s exceedingly high affordability index for houses, standing at 63 years, making it a less attractive prospect for families aiming to own property in this area.

    Supply and demand indicators show a rather favourable trend. The stock on market Percentage for MURRUMBEENA 3163 houses stands at a favourable 0.18%, indicating a low supply, while the inventory Level, another supply metric, trails at a low of 0.62 months. The building approvals Ratio, which indicates future supply, records a minimal 0.7%.

    Demand for houses, as indicated by the Days on Market, is high, registering a stellar low score of 22 days. This is below the milestone of 35 that would typically indicate high demand. Furthermore, the Vacancy Rate, combining both houses and units, is very low at just 0.6%, suggesting that demand surpasses supply. However, the suburb’s buy search index for houses sits at a downside trend marker of 3, suggesting limited interest in property purchase.

    In essence, MURRUMBEENA 3163 presents several favourable dynamics, yet some key indicators like affordability and buy search index might pose challenges for investors. As always, staying attuned to the local market developments and employing diverse research tools like the RCS (Relative Composite Score) from HtAG Analytics ensures enlightened investment decision-making in the real estate space.

    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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