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Jacana, VIC 3047

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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 Jacana, VIC 3047 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 “Jacana, VIC 3047”

  1. The total adult population (15 years or older) of Jacana 3047 VIC is 1,862, with a median age of 35. Of those, 42.64% are married, 11.39% are divorced or separated, 40.60% are single and 5.16% are widowed.

    The average household size is 2.6 people per dwelling, and the median household monthly income is estimated to be $5,844. The median monthly mortgage repayment for households in this suburb is $1,517 which is 25.96% of their earnings.

    Source: ABS Census Data (2021)

  2. JACANA 3047, a residential suburb tucked away in the heart of Victoria, is home to approximately 1031 households. This tranquil residential hub is a blend of quiet living and urban convenience, making it a potential hotspot for property investors seeking a balance between potential return and lifestyle amenities.

    In the third quarter of 2023, the median housing price in JACANA stands at a significant $598,485. Despite this, the median weekly rent is set at a moderate $350, resulting in an indicative yield of 3.04%, a figure that aligns with the minimum market requirement for Australian property investors with a cashflow-centered approach.

    Significantly, JACANA has achieved an IRSAD score of 897 out of 1217, an indicator of reasonable socio-economic status and relative accessibility to economic resources within the suburb. Looking at the renter to owner ratio, the score stands at 37% – not too high to raise red flags, but nevertheless something for potential investors to consider.

    The housing landscape of JACANA is predominantly comprised of houses with units making up just 12% of the property market. The suburb presents a low competition market for landlords seeking to rent their properties.

    However, prospective homeowners are faced with a sobering affordability index of 40 years. This index suggests that home ownership might be a stretch for many residents, with the time required to fully own a property surpassing the traditional 30-year mortgage model.

    The suburb exhibits a low stock on market percentage of 0.18% for houses and a relatively low inventory level of 0.86 months highlighting a low supply market – favorable signs for potential investors. With a building approval ratio of 0.73%, the market does not appear to be overheated with new developments, further supporting potential capital growth for existing properties.

    Despite a relatively high average of 203 days on the market, indicating some cooling in buyer demand, the incredibly low vacancy rate of 0.26%, coupled with a moderate buy search index of 3, suggests that rental properties are still in high demand, possibly due to the attractive yields on offer.

    In conclusion, while it is essential to acknowledge the affordability issue highlighted by the years to own metric and relatively slow demand suggested by the average days on market statistic, JACANA’s property market still appears to have key favourable features. These include a solid yield, low competition and supply in the rental market, and high demand in terms of low vacancy rate and potential buyers interest.

    However, as always, it is advised to keep monitoring market developments closely, making use of robust automated analytics like the Relative Composite Score (RCS) by HtaG. By analysing over 80 metrics, it’s easier than ever to stay abreast of changes that could affect 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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