Fraud Blocker

Somerville, VIC 3912

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 Somerville, VIC 3912 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 “Somerville, VIC 3912”

  1. The total adult population (15 years or older) of Somerville 3912 VIC is 9,584, with a median age of 40. Of those, 46.31% are married, 13.16% are divorced or separated, 34.88% are single and 5.57% are widowed.

    The average household size is 2.6 people per dwelling, and the median household monthly income is estimated to be $8,596. The median monthly mortgage repayment for households in this suburb is $1,800 which is 20.94% of their earnings.

    Source: ABS Census Data (2021)

  2. The suburb of Somerville 3912, located in Victoria, is reportedly home to around 5,483 households. As we dive into Q3 of 2023, typical house prices in Somerville 3912 average around $827,128, with median weekly rents pitched at $587. An indicative yield of about 3.69% is generated from these figures, suggestive of a moderate income-generating potential for real estate investors in the area.

    In terms of fundamentals, Somerville boasts an IRSAD score of 1000 out of a maximum of 1217, indicating a relatively high socio-economic standing and enhanced accessibility to economic resources. The renter to owner ratio in this suburb sits comfortably at 16%, significantly lower than the threshold for high risk, and thereby indicating less competition among property investors for tenants. Furthermore, the units to houses ratio is pegged at just 19%, hinting at the fact that the area keeps an upper hand in its appeal to homebuyers since it’s less saturated by units.

    However, with the suburb’s affordability index recorded at 38 years for houses, prospective homeowners are expected to strain due to higher than average property prices. In effect, this might translate into high demand among renters, which ultimately acts to the benefit of property investors.

    When it comes to supply metrics, the suburb fares well. stock on market Percentage for houses remains low at only 0.21%, indicating a favourable low supply scenario. Moreover, an incredibly lean inventory level for houses stands at 0.76 months, which according to established market parameters, signifies a favourable market absorption rate, and hinting of a low supply market.

    The building approvals Ratio for houses in this suburb is 0.44%, which is beneficial for investors as it suggests a tighter supply of new dwellings in the market. The days on market for houses in Somerville 3912 extends to an average of 40 days, signifying a neutral high-demand market scenario. The Vacancy Rate, combining both houses and units, registers an exceptionally low rate of 0.57% – pointing towards extremely high demand and little supply; an ideal market condition for property investors.

    As for the Buy Search Index, this hits a score of 5 for houses, indicating that the demand for buying houses in Somerville 3912 aligns with the state/city average.

    Despite the seemingly high pricing of houses, the majority of other metrics reflect promising investment potential in Somerville 3912’s housing market, thanks to the relative scarcity of supply coupled with sustained levels of demand. For a comprehensive understanding of the property market data, leverage the RCS (Relative Composite Score) metric developed by HtAG Analytics; it employs over 80 metrics to simplify the interpretation of market indicators.

    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