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Scoresby, VIC 3179

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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 Scoresby, VIC 3179 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

2BR

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Rent 

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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 “Scoresby, VIC 3179”

  1. The total adult population (15 years or older) of Scoresby 3179 VIC is 5,006, with a median age of 40. Of those, 52.32% are married, 9.23% are divorced or separated, 34.26% are single and 4.19% are widowed.

    The average household size is 2.8 people per dwelling, and the median household monthly income is estimated to be $8,668. The median monthly mortgage repayment for households in this suburb is $2,023 which is 23.34% of their earnings.

    Source: ABS Census Data (2021)

  2. Situated in Victoria (VIC), the suburb of Scoresby 3179 is home to an estimated 2,630 households. Let’s delve into the property market specifics for houses in this area as of Q3, 2023.

    Houses in Scoresby 3179 are typically priced at $1,029,460, generating a median weekly rent of $505. This equates to an indicative yield of 2.55%, which falls slightly below the minimum attractive market requirement of 3% for property investors focusing on cash flow.

    The socio-economic environment of Scoresby is relatively robust, reflected in its IRSAD score of 1026 out of 1217. This score suggests the area has access to considerable economic resources and possibly higher income brackets.

    Owners dominate the residential property market with a favourable renter to owner ratio of 22%, resulting in reduced competition amongst landlords and potentially higher long-term returns. In terms of dwelling types, the area leans heavily on houses with a low units to houses ratio of 6%, which could signify increased appeal to families and longer tenancy periods.

    Nonetheless, it’s worth highlighting the high affordability index of 47 years, which indicates it may take a longer than average time to fully own a property, suggesting a decrease in overall affordability.

    From a supply perspective, Scoresby’s property market appears moderately favourable. With a stock on market Percentage sitting at a healthy 0.44%, the market is not oversaturated, falling within the favourable range of below 1.3%. inventory levels are at 2.35 months suggesting a somewhat balanced, absorbent market. However, the building approvals Ratio at 0.98% could potentially signal a slight increase in new dwelling supply in the future.

    Demand indicators for the area look excellent. With an average days on market metric of 20, this suggests higher demand, as properties are being sold swiftly, and a vacancy rate of 1.19% denotes a high demand due to less availability. A buy search index of 3 is neutral, suggesting a steady stream of potential house buyers.

    In summary, while several factors are favourable in the Scoresby’s property market, affordability might be a concern for potential homeowners. It is critical to understand the potential opportunities for capital gains and cash flow as well as keeping a watchful eye on market developments when considering real estate investment in this suburb.

    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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