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Alphington, VIC 3078

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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 Alphington, VIC 3078 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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Rent 

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Yield 

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Buy 

1BR

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Rent 

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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 “Alphington, VIC 3078”

  1. The total adult population (15 years or older) of Alphington 3078 VIC is 4,823, with a median age of 39. Of those, 40.49% are married, 10.01% are divorced or separated, 45.74% are single and 3.63% are widowed.

    The average household size is 2.4 people per dwelling, and the median household monthly income is estimated to be $13,692. The median monthly mortgage repayment for households in this suburb is $2,492 which is 18.20% of their earnings.

    Source: ABS Census Data (2021)

  2. The suburb of Alphington, postcode 3078, is nestled in the state of Victoria (VIC), with an estimated 3539 households. As we review the third quarter of 2023, the housing market here showcases typical prices averaging $1,998,712, while median weekly rents sit at around $735. This scenario gives birth to an indicative yield of 1.91%, a figure that is unfortunately below the minimum 3% yield required by cash flow-focused property investors.

    Alphington portrays a strong socio-economic positioning with an IRSAD score of 1128 out of 1217. This reflects an above-average socio-economic status and suggests a bustling community with access to decent economic resources and an inclination towards high-income levels and skilled professions.

    In the domain of property ownership in Alphington, there is a slightly skewed renter to owner ratio of 34%, slightly above the ideal 30%, implying a fairly balanced mix of property owners and renters residing in the suburb.

    When it comes to the composition of dwelling types, Alphington maintains a healthy balance – illustrated by the units to houses ratio of 35%. This ratio is within the preferable range and indicates a good blend of family-friendly houses and accessible rental units, thereby steadying the competition for tenants among landlords.

    However, the suburb reveals an affordability index reaching 57 years, indicating a higher-than-average duration required to fully own a property here. This could be a potential deterrent for first-home buyers or those with a tighter budget considering Alphington as a future home base.

    From a supply perspective, Alphington presents a favourable scenario. stock on market Percentage stands at a low 0.06%, suggesting scarcity of unsold properties in relation to the total available dwellings. Moreover, the inventory level rests at only 0.32 months, indicating an accelerated absorption rate for new listings.

    Meanwhile, the building approvals Ratio, sitting at 1.16%, represents a healthy level of residential development, ensuring stability in the property supply chain without tipping the balance towards oversupply.

    When diving into demand metrics, the average roll-out period for ‘for sale’ listings, or the Days on Market, is 243 days. This reflects a lower demand than desired. However, compensating for this is the low vacancy rate (which combines houses and units) of 0.84%. Here, Alphington excels by indicating a higher demand for rental properties, due to the limited available supply.

    For potential buyers, the buy search index rests at 4, which aligns with the state/city average. While this signifies a reasonable interest amongst potential buyers, it is always important to keep an eye on the market developments, especially income prospects, supply, and demand indicators, to ensure beneficial investment decisions.

    In conclusion, while Alphington reveals some challenges, it also highlights several positive metrics in the property market. It is important for potential investors to weigh these factors thoroughly, bearing in mind that the high IRSAD score, favourable supply metrics, and a balanced renter to owner ratio all contribute to its overall appeal. You may also consider leveraging tools such as the Relative Composite Score (RSC) metric by HtAG Analytics to automate analysis, using over 80 different metrics to help refine your potential 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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