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Ormond, VIC 3204

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 Ormond, VIC 3204 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 

2BR

3BR

4BR

5BR

Rent 

2BR

3BR

4BR

5BR

Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

3BR

Yield 

1BR

2BR

3BR

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 “Ormond, VIC 3204”

  1. The total adult population (15 years or older) of Ormond 3204 VIC is 6,928, with a median age of 37. Of those, 46.15% are married, 9.90% are divorced or separated, 40.39% are single and 3.52% are widowed.

    The average household size is 2.5 people per dwelling, and the median household monthly income is estimated to be $11,232. The median monthly mortgage repayment for households in this suburb is $2,252 which is 20.05% of their earnings.

    Source: ABS Census Data (2021)

  2. Situated in Victoria, the suburb of Ormond (postcode 3204) is a bustling residential district housing an estimated tally of 4064 households. As we journey into the third quarter of 2023, the typical price for houses in Ormond sits at a sturdy $1,885,254. Concerning median weekly rent prices, tenants are paying an average of $699. This calculates to a modest indicative yield of 1.93% – a fact that may catch the attention of yield-centric property investors.

    Delving deeper into the socio-economic landscape, Ormond’s IRSAD score lies at 1095 out of 1217. This indicates a generally promising socio-economic landscape, with residents frequently having access to economic resources, steady income levels and skilled occupations.

    In terms of owner and renter dynamics, Ormond 3204 presents a renter to owner ratio of 37%. While slightly higher, it still fits within the stable investment parameters, suggesting that the property market isn’t overly saturated with rental properties. Furthermore, the suburb’s units to houses ratio neatly conforms to the ideal balance by lingering at a fair 50%. Such a median value speaks to a balanced market with a diversified offering that caters to both unit-lovers and house-hunters.

    From an affordability perspective, Ormond’s index for houses currently sits at a somewhat steep 66 years, implying a potentially challenging environment when it comes to fully owning a property.

    As we scrutinise the supply metrics, we find the stock on market Percentage for houses at an optimum of 0.33% – a favourable condition highlighting low supply. Meanwhile, the inventory level for the market comfortably sits at 1.09 months, further reflecting the low supply scenario.

    The building approvals Ratio for houses also rests in the favourable range at 0.26%, implying the market isn’t expected to be flooded with new properties anytime soon.

    At an average of 24, the number of days properties in Ormond stay on the market is relatively low, indicating a high demand environment in the property market. And with a vacancy rate of 2.04%, we’re seeing a fairly balanced picture of supply and demand – not too hot, nor too cold – and this can yield good opportunities for would-be investors.

    In terms of online interest, the buy search index for houses is currently standing at 3. While this is not extremely high, it resonates with a stable level of demand.

    In summary, the property market in Ormond, Victoria appears to carry several favourable elements for informed investors, in spite of a slightly challenging affordability index. It’s important to keep in mind, ultimately, that the overall investment picture cannot be accurately gauged just from individual data points. Real estate investment requires comprehensive, multi-metric analysis, like the Relative Composite Score provided by HtAG Analytics – a tool built with over 80 different property metrics.

    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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