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Coolaroo, VIC 3048

Home » VIC Real Estate Data » Hume City, VIC » Coolaroo, VIC 3048

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 Coolaroo, VIC 3048 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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3BR

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Rent 

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Yield 

2BR

3BR

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5BR

Buy 

1BR

2BR

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Rent 

1BR

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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 “Coolaroo, VIC 3048”

  1. The total adult population (15 years or older) of Coolaroo 3048 VIC is 2,568, with a median age of 37. Of those, 41.98% are married, 12.89% are divorced or separated, 36.02% are single and 9.07% are widowed.

    The average household size is 2.9 people per dwelling, and the median household monthly income is estimated to be $4,876. The median monthly mortgage repayment for households in this suburb is $1,324 which is 27.15% of their earnings.

    Source: ABS Census Data (2021)

  2. Coolaroo 3048, located in the state of Victoria, is estimated to house about 1851 households. As we progress into the third quarter of 2023, the housing market in Coolaroo paints an interesting picture for potential investors. Typical house prices in this suburb are marked at $500,748. Pair that with a median weekly rent of $362, and we get an indicative yield of about 3.76% – proving an attractive market for property investors focusing on cashflow.

    The suburb flaunts an IRSAD score of 822 out of a possible 1217. This tells us that Coolaroo’s population enjoys a fairly reasonable access to economic resources, with income levels and professions skewing towards the moderate spectrum when compared nationwide.

    The renting populace against homeowners sits at a favourable balance, with a renter to owner ratio of only 28%, suggesting that the market isn’t oversaturated with rental properties. This can potentially lead to consistent returns in the long term for property investors. Moreover, the units to houses ratio stands at a scant 4%, suggesting less competition among landlords for tenants, which is a favourable position for those seeking to invest in rental properties.

    However, the Affordability Index, coming in at 40 years, suggests a decreased level of affordability in the housing market of Coolaroo. This is due to the relatively high house prices, which may dampen the investment enthusiasm from those looking for affordable properties.

    When it comes to property supply in Coolaroo, the stock on market Percentage for houses is at a favourable low supply of 0.22%, with an inventory level of 1.92 months of supply. The building approvals Ratio is also favourably low at 0.11%, indicating that there isn’t a substantial amount of new housing supply entering the market.

    In terms of demand, the average house sits on the market for 103 days before selling. This is a bit of a mixed bag as although it’s above our desired 35 days, it’s not excessively high. With a vacancy rate of only 0.37%, demand for rentals is expected to be quite high, presenting potentially excellent opportunities for property investors.

    However, the buy search index sits at a modest 3, suggesting a limited demand for buying properties in the area.

    Despite some of the mixed metrics, Coolaroo’s favourable rental yield, appealing renter to owner ratio, and low supply make it an attractive proposition overall based on the current market in Q3 2023. It’s essential to consider these figures alongside other key metrics and market trends to make well-informed investment 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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