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Armadale, VIC 3143

Home » VIC Real Estate Data » Stonnington City, VIC » Armadale, VIC 3143

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 Armadale, VIC 3143 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

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5BR

Rent 

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4BR

5BR

Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

3BR

Yield 

1BR

2BR

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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 “Armadale, VIC 3143”

  1. The total adult population (15 years or older) of Armadale 3143 VIC is 8,175, with a median age of 38. Of those, 38.23% are married, 10.84% are divorced or separated, 46.85% are single and 4.05% are widowed.

    The average household size is 2.0 people per dwelling, and the median household monthly income is estimated to be $13,472. The median monthly mortgage repayment for households in this suburb is $2,458 which is 18.25% of their earnings.

    Source: ABS Census Data (2021)

  2. Situated in the region of Victoria, the suburb of Armadale, carrying the postcode 3143, is estimated to house approximately 6360 households. By the third quarter of 2023, typical housing prices in Armadale are registering at around $2,127,702, with the median weekly rent pegged at $997. This set-up produces an indicative yield of 2.44%, which falls slightly short of the ideal minimum for cashflow-centred property investors which is at 3%.

    When considering the socio-economic standing of Armadale’s local population, we observe an impressive IRSAD score of 1130 out of a possible 1217. This above-average score indicates a generally affluent population with a strong representation in higher-income careers.

    In this well-to-do suburb, we also notice handling a renter to owner ratio of 45%. This ratio errs high on the side of renters and as per property investment evaluation, falls in the questionable zone, potentially resulting in high competition and risk.

    Armadale also boasts an uneven units to houses ratio of 57%, underlining a predominance of units over detached houses. Following property market conditions, this skew is likely to intensify competition among landlords for tenants while also posing a risk of price drops in the event of a market cool-off.

    The affordability index for Armadale is more challenging, sitting at a sizable 62 years, significantly above the standard 30-year mortgage timeline. This suggests that property in Armadale may be less accessible to potential local buyers given their average income and the area’s property prices.

    Turning to the supply metrics, stock on market Percentage charts at an attractive 0.4%, indicating lower supply, while the inventory level recorded at only 1.23 months is favourable, showing a good rate of absorption for new listings. Conversely, the low building approvals Ratio of 0.15% suggests a slowdown in the development of new dwellings, which may enhance the appeal of existing properties.

    Armadale’s housing demand metrics also display a favourable landscape, with properties spending an average of just 24 days on the market. Coupled with a sustained but controlled vacancy rate of 1.58% and a buy search index logging at 5, these metrics underscore a high level of ongoing buyer interest in the area.

    In conclusion, while some metrics may lean toward the unfavourable, the overall market outlook in Armadale is optimistic due to the predominance of favourable indications. The suburb’s RCS (Relative Composite Score) could provide further insights by validating this evaluation using a more comprehensive set of metrics. As always, understanding of local property market data remains key to identifying potential investment opportunities.

    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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