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Poowong, VIC 3988

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 Poowong, VIC 3988 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 “Poowong, VIC 3988”

  1. The total adult population (15 years or older) of Poowong 3988 VIC is 593, with a median age of 42. Of those, 50.25% are married, 13.66% are divorced or separated, 32.38% are single and 3.37% are widowed.

    The average household size is 2.5 people per dwelling, and the median household monthly income is estimated to be $7,852. The median monthly mortgage repayment for households in this suburb is $1,700 which is 21.65% of their earnings.

    Source: ABS Census Data (2021)

  2. The suburb of Poowong, postcode 3988, nestled in the lovely state of Victoria, is home to a modest 412 households. As we venture into the third quarter of 2023, the property market here presents typical house prices sitting around $739,523. When paired with a median weekly rent of $448, this generates an indicative yield of an attractive 3.15%, exceeding the 3% cash flow requirement preferred by property investors.

    The area’s IRSAD score stands at a commendable 992 out of a possible 1217, suggestive of relatively high socio-economic conditions in the locale. Poowong presents as a strongly owner-occupied area, with a low renter to owner ratio of just 8%. This can be advantageous for long-term returns and lower competition in the investment market. Furthermore, a positive attribute of Poowong’s property landscape is the small units to houses ratio at just 1%, making for a market often more appealing to families and thus, likely longer tenancies.

    However, potential investors should note the Affordability Index. At 38 years, this indicates that full property ownership may take longer than the standard 30-year mortgage period. This suggests reduced affordability, which may impact the attractiveness of the area for some buyers.

    The supply side of Poowong’s property market indicates a buoyant housing market, characterised by a low stock on market Percentage at 0.24%. A lower percentage here usually translates to greater competition amongst buyers, often leading to faster sales and price increases. The current inventory level of houses rests at three months, marking a healthy absorption rate of new listings.

    Housing supply growth is currently dormant, as indicated by the 0% building approvals Ratio. This can bode well for property values, particularly if demand remains strong. Speaking of demand, properties in Poowong typically spend 65 days on the market before finding their new owners. Reflecting this demand further, the buy search index for houses in Poowong matches the state average, estimated at 3.

    The combined vacancy rate for houses and units is 3.23%, lying in a neutral zone for demand. The relatively balanced vacancy rate demonstrates there’s neither a surplus nor a shortage of rental properties which could be seen as stability in the rental market.

    In conclusion, despite some affordability challenges, Poowong 3988 exhibits a variety of positive indicators that should be of interest to potential property investors and buyers. Its healthy indicative yield, low renter to owner ratio, minimal units to houses ratio, and low stock on market percentage, all contribute to an attractive investment opportunity. As with any investment, continued observation of the market dynamics and trends will be essential in making successful property decisions.

    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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