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Pakenham, VIC 3810

Home » VIC Real Estate Data » Cardinia Shire, VIC » Pakenham, VIC 3810

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 Pakenham, VIC 3810 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™

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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 “Pakenham, VIC 3810”

  1. The total adult population (15 years or older) of Pakenham 3810 VIC is 41,095, with a median age of 33. Of those, 46.16% are married, 12.68% are divorced or separated, 36.87% are single and 4.30% are widowed.

    The average household size is 2.8 people per dwelling, and the median household monthly income is estimated to be $7,516. The median monthly mortgage repayment for households in this suburb is $1,733 which is 23.06% of their earnings.

    Source: ABS Census Data (2021)

  2. Nestled in the state of Victoria is the suburb of Pakenham 3810, home to an estimated 23,611 households. As of Q3 2023, the typical price for houses in Pakenham is $723,086. With a median weekly rent of $415, investors can expect an indicative yield of 2.98% – a figure just under the 3% threshold sought after by cash flow-centred property investors.

    Delving into Pakenham’s socio-economic score reveals an IRSAD score of 958 out of 1217, a decent rating that suggests residents’ reasonable access to economic resources and potential earnings. The ratio of renters to owners is also worth noting, with the area having a slightly higher-than-optimal rate of 31%. This suggests moderate competition amongst property investors in the long run, however it’s still within acceptable margins.

    Looking at the units to houses ratio, Pakenham is predominantly a suburban area with just 8% of dwellings as apartments, units or flats. This is favourable as it indicates a lower likelihood of an oversaturated rental market, maintaining more stability in rental yields and overall market appeal.

    As for housing affordability, it’s a different story. The affordability index clocks in at 38 years, above the standard 30-year mortgage period, suggesting lower affordability for potential homeowners. In other words, there is a higher demand for rental properties, reflecting positively on property investors.

    In terms of supply metrics, the suburb presents a relatively balanced picture. The stock on market percentage for houses is 0.63%, nudging into the neutral range, while the inventory level is favourably low at just 1.71 months. The building approvals Ratio sits comfortably within the favourable range at a mere 0.5%, demonstrating limited over-supply risk.

    As for demand metrics, properties in Pakenham are performing well. Houses stay on the market for an average of just 33 days. This is indicative of robust demand. The low vacancy rate of 0.85% offers additional certainty of high demand, with a limited supply yielding a greater likelihood of higher rent.

    Lastly, the buy search index for houses is 3, indicating a neutral demand. Overall, Pakenham 3810 displays a balanced property market, with some areas faring better than others. A keen eye on market trends and more granular metrics, like RCS by HtAG Analytics, can help further define the investment opportunity offered by the suburban charm of Pakenham.

    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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