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Balaclava, VIC 3183

Home » VIC Real Estate Data » Port Phillip City, VIC » Balaclava, VIC 3183

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 Balaclava, VIC 3183 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 

2BR

3BR

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5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

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Yield 

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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 “Balaclava, VIC 3183”

  1. The total adult population (15 years or older) of Balaclava 3183 VIC is 4,699, with a median age of 35. Of those, 26.15% are married, 10.13% are divorced or separated, 61.44% are single and 2.23% are widowed.

    The average household size is 2.0 people per dwelling, and the median household monthly income is estimated to be $11,596. The median monthly mortgage repayment for households in this suburb is $2,223 which is 19.17% of their earnings.

    Source: ABS Census Data (2021)

  2. Located in Victoria, the suburb of Balaclava (3183) is estimated to be comprised of roughly 3338 households.

    As of the third quarter of 2023, the average price for houses in Balaclava is recorded at an eye-catching $1,537,703 AUD. The median weekly rent in this area stands at $758, thereby translating to an indicative yield of 2.56%. This yield sits below the minimum 3% market requirement, potentially positioning Balaclava as a less attractive market for investors aiming for cash flow.

    Delving into the suburb’s fundamental metrics, Balaclava boasts an impressive IRSAD score of 1102 out of 1217, suggesting that the area benefits from a robust socio-economic status with overall access to greater economic resources. However, the renter to owner ratio is fairly high at 48%, indicating a market saturated with rental properties which could lead to lower long-term returns and reveal a high tendency of competition among property investors.

    Further, the units to houses ratio stands at a relatively high 61%, pointing towards an oversupply of units on the market. This situation could breed excess competition among landlords for tenants, thereby potentially undermining the rental yields.

    On the affordability front, houses in Balaclava score a high index of 52 years, a number that exceeds the 31-year affordability threshold. This indicates decreased affordability in the area which may be seen as less favourable for first home buyers or local residents looking to upgrade.

    Turning to supply metrics, the stock on market Percentage for houses is admirably low at 0.08%, favourably indicating a low supply of houses on the market. Similarly, the inventory level for houses is remarkably low at 0.3 months, a favourable figure that suggests a healthy absorption rate of new listings into the market. The building approvals Ratio for houses in Balaclava records a low 0.0%, hinting at a restricted supply of new dwellings in the market, another favourable indication for potential investors.

    When it comes to demand metrics, the days on market (DOM) for houses in this suburb is at 40 – a neutral figure that suggests a balance between supply and demand. Furthermore, the vacancy rate which combines both houses and units is a favourable 1.18%, demonstrating that the demand outpaces the readily available supply, again a positive sign for potential property investors.

    Lastly, the buy search index for houses in Balaclava stands at 3, indicating limited demand which can also be interpreted as less favourable.

    It is important that investors take into account all these variables when making investment decisions. Overarching metrics such as RCS (Relative Composite Score), developed by HtAG Analytics, can further help streamline this process by considering a vast array of metrics concurrently. Despite some metrics indicating less favourable conditions, the Balaclava property market may present potential opportunities given the majority of favourable indicators present.

    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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