Fraud Blocker

Bittern, VIC 3918

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 Bittern, VIC 3918 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™

Upgrade to Professional Plan to see the score

Capital Growth RCS™

Upgrade to Professional Plan to see the score

Cashflow RCS™

Upgrade to Professional Plan to see the score

FREE Investment Property Checklist

Secure your golden ticket to property investment success! Get our meticulously crafted Property Investment Checklist upon subscribing to our newsletter. It’s jam-packed with valuable insights from prime locations to specific building nuances.

Essentials
No Price Data
Loading…

Upgrade to Personal Plan to see forecasts on the graph above.

No Rent Data
Loading…

Upgrade to Personal Plan to see forecasts on the graph above.

Upgrade to Personal Plan to see Yield data.
Yield chart
Upgrade to Professional Plan to see Growth Rate Cycle data.
GRC chart
Fundamentals
Upgrade to Personal Plan to see IRSAD data.
IRSAD chart
Upgrade to Personal Plan to see U|H and R|O data.
Renters to owners pie chart
Upgrade to Personal Plan to see U|H and R|O data.
unit to houses pie charts
Upgrade to Personal Plan to see Demand Profile data.
Demand chart
Upgrade to Professional Plan to see Affordability Index data.
Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

Upgrade to Professional Plan to see Stock On Market trend.
SOM chart
Upgrade to Professional Plan to see Inventory trend.
Inventory chart
Upgrade to Professional Plan to see Building Approvals trend.
Inventory chart
Upgrade to Professional Plan to see Hold Period trend.
Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

Upgrade to Professional Plan to see Days On Market trend.
DOM chart
Upgrade to Professional Plan to see Vacancy Rate trend.
Inventory chart
Upgrade to Professional Plan to see Search Index trend.
Index chart
Upgrade to Professional Plan to see Clearance Rate trend.
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.

Have a question? You can either leave a comment below or post it on our forum.

0 thoughts on “Bittern, VIC 3918”

  1. The total adult population (15 years or older) of Bittern 3918 VIC is 3,546, with a median age of 46. Of those, 51.61% are married, 12.80% are divorced or separated, 30.65% are single and 4.96% are widowed.

    The average household size is 2.5 people per dwelling, and the median household monthly income is estimated to be $7,964. The median monthly mortgage repayment for households in this suburb is $1,842 which is 23.13% of their earnings.

    Source: ABS Census Data (2021)

  2. Nestled within the state of Victoria, the suburb of BITTERN 3918 is a cozy residential area with an estimated 1971 households. As of Q3 of 2023, the local property market is displaying some interesting dynamics for potential real estate investors to consider.

    Currently, the typical price for houses in BITTERN 3918 is $863,379. This is complemented by a median weekly rent of $495. These two figures interplay to produce an indicative yield of 2.98%, which is slightly below the minimum attractive market requirement of 3% for cashflow-centred property investors. While this yield may not be highly attractive for these specific investors, those looking for long-term capital gains should not be discouraged.

    The suburb showcases a compelling socio-economic landscape with an IRSAD score of 992 out of 1217. This illustrates a strong socio-economic status among the suburban area’s residents, indicating good access to economic resources and an elevated level of income and skills.

    In terms of homeownership, BITTERN 3918 features a low renter to owner ratio of just 12%. This means the vast majority of residents are homeowners, contributing to a stable and community-focused environment that is typically esteemed by potential buyers and renters, and is likely to result in steady demand and returns in the long term.

    On the property front, BITTERN 3918 shows a low units to houses ratio of 14%. The locality is dominated by houses which often attract family-oriented tenants, who are usually offering longer tenancy periods, hence potentially providing stable rental income.

    However, a note of caution is necessary on the affordability index front as it stands at 42 years. This indicates that owning property in this area is less affordable, potentially lowering demand among would-be homeowners.

    From the viewpoint of supply, the stock on market percentage for houses sits favourably low at 0.23%, indicating a restricted supply. The inventory level for houses is at a healthy 1.02 months, displaying a market able to absorb new listings reasonably quickly.

    The building approvals ratio for houses is currently 0.62% which implies a modest amount of new supply entering the market and providing a balanced market outlook. The average number of days on market for houses is short at only 26 days, suggesting high demand for houses in the locality.

    The combined vacancy rate for houses and units in BITTERN 3918 is sitting at a neutral 2.09%, implying a balanced market between supply and demand. The suburb has a buy search index for houses of 5, which is at the state average, indicating an average level of buyer interest.

    In conclusion, BITTERN 3918 presents a balanced property market with potentially steady returns for long-term investments, albeit with slight concerns on the affordability front. It’s important to continue monitoring shifts in market conditions and trends, and keep in mind that a comprehensive analysis like this, incorporating metrics such as the RCS score by HtAG Analytics, can offer crucial insights for making 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.

Leave a comment