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Neerim South, VIC 3831

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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 Neerim South, VIC 3831 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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Rent 

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Yield 

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Buy 

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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 “Neerim South, VIC 3831”

  1. The total adult population (15 years or older) of Neerim South 3831 VIC is 1,318, with a median age of 47. Of those, 53.26% are married, 11.00% are divorced or separated, 29.44% are single and 5.54% are widowed.

    The average household size is 2.5 people per dwelling, and the median household monthly income is estimated to be $6,272. The median monthly mortgage repayment for households in this suburb is $1,549 which is 24.70% of their earnings.

    Source: ABS Census Data (2021)

  2. Situated in the state of Victoria, Neerim South, post code 3831, is a charming Australian suburb consisting of approximately 882 households. Delving into the third quarter of 2023, this suburbs real estate market presents a unique landscape for potential investors and homeowners.

    Houses in Neerim South sit at an average price of $694,958. Coupled with a median weekly rent of $475, this culminates in an advantageous indicative yield of 3.57%. This yield is just over the industry attractive yield threshold of 3%, indicating that the Neerim South market can offer profitable returns for cashflow-focused investors.

    The socio-economic status of the area, as measured by the IRSAD score, ranks at 981 out of a possible 1217. This suggests that the suburb is a thriving hub with desirable living standards that should retain its property market appeal over time.

    The region shines with a promising renter to owner ratio of 12%, way below the deemed risky benchmark of 45%. This implies a robust owner-occupier market, signifying potential for long-term value retention. Likewise, boasting a units to houses ratio of a mere 5%, the risk of over-saturation with rental properties is relatively low, offering less competition amongst landlords and potentially higher rental yields.

    In terms of affordability, however, the suburb requires a lens of scrutiny. Neerim South has an affordability index of 43 years, indicating that potential homeowners may need to spend over four decades to fully own a property. This is greater than the typical 30-year mortgage period, hinting at lesser affordability.

    In relation to supply factors, the suburb presents favourably featuring a stock on market percentage of 0.11% and an inventory level of 1 month. Such low supply indicators point towards high desirability and low competition among houses on sale.

    Interestingly, the building approvals Ratio for houses stands at 0.0%, suggesting no new houses are due to be added to the Neerim South’s property market in the near term. While this may limit supply further, it should help mitigate risks of oversupply which can dampen property values.

    Demand variables also shed an encouraging light on the property market in Neerim South. A short average of 13 days on the market indicates that houses here are snapped up quickly, perhaps owing to competitive demand.

    Despite this, with a relatively high vacancy rate of 4.85% for both houses and units, potential investors might be slightly apprehensive about rental demand. However, a buy search index of 3, although classed as neutral, does hint at some ongoing interest in the suburb’s property market.

    In summary, though certain aspects such as affordability and vacancy rates might raise some eyebrows, the majority of metrics cast Neerim South in a favourable light. It is always wise to monitor trends as well as metrics, and take a balanced investment approach considering various factors such as cash flow, capital growth and your personal investment goals. Services like HtAG Analytics can make the task easier by providing an automated calculation of the Relative Composite Score (RCS) which can aid your decision-making process.

    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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