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Glen Waverley, VIC 3150

Home » VIC Real Estate Data » Monash City, VIC » Glen Waverley, VIC 3150

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 Glen Waverley, VIC 3150 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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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 “Glen Waverley, VIC 3150”

  1. The total adult population (15 years or older) of Glen Waverley 3150 VIC is 35,558, with a median age of 40. Of those, 57.20% are married, 6.83% are divorced or separated, 30.63% are single and 5.35% are widowed.

    The average household size is 2.8 people per dwelling, and the median household monthly income is estimated to be $8,632. The median monthly mortgage repayment for households in this suburb is $2,500 which is 28.96% of their earnings.

    Source: ABS Census Data (2021)

  2. Located in the vibrant state of Victoria, the suburb of Glen Waverley is home to an estimated 18,333 households. As we analyse the property market in Q3 of 2023, typical house prices in Glen Waverley stand at a robust $1,867,542. In terms of rental metrics, the median weekly rent is $529, equating to an indicative yield of 1.47%. While this yield may fall shy of the minimum 3% benchmark considered attractive for cashflow-centric property investors, it’s important to consider the overall investment landscape.

    Glen Waverley boasts an impressive IRSAD score of 1079 out of a possible 1217, indicating a populace with access to substantial economic resources, high income levels, and a high concentration of skilled professionals. This socio-economic stature is an encouraging sign for potential investors seeking a market with strong fundamentals.

    In terms of property composition, the renter to owner ratio sits at 27%, indicating a balanced market that isn’t saturated with rental properties, thereby potentially maximising returns in the long term. Glen Waverley also presents a favourable unit to houses ratio of just 16%, tilt the scales towards a market scope dominated by houses over units.

    However, the suburb’s affordability index presents a less favourable picture, with houses reportedly requiring an estimated 85 years to own. This could signify decreased affordability, particularly among younger or first-time buyers.

    Glen Waverley’s supply metrics are encouraging, with the stock on market Percentage lodged at 0.27%, indicating a low supply which could augur well for price stability. The suburb also maintains an inventory Level of just 1.0 months, once again reinforcing the narrative of low supply. The building approvals Ratio for houses is 0.64%, indicating current development activity isn’t oversaturating the market.

    The housing market in Glen Waverley appears to be in robust demand, with houses typically spending just 24 days on the market. Meantime, the vacancy rate combining both houses and units is at a moderate 1.57%, potentially indicating a balance between supply and demand in the rental market.

    Glen Waverley’s buy search index for houses is currently at 3, which falls into the neutral range. While not indicative of high demand, it doesn’t signal limited demand either.

    In conclusion, while some metrics like the affordability index and the slightly reduced indicative yield may cause concern, Glen Waverley’s housing market shows positive signs with low supply levels and a solid socio-economic score. As always, it is advisable to keep an eye on changing market trends to maximise investment potential.

    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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