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Devon Meadows, VIC 3977

Home » VIC Real Estate Data » Casey City, VIC » Devon Meadows, VIC 3977

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 Devon Meadows, VIC 3977 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 “Devon Meadows, VIC 3977”

  1. The total adult population (15 years or older) of Devon Meadows 3977 VIC is 1,284, with a median age of 44. Of those, 51.71% are married, 12.46% are divorced or separated, 32.01% are single and 4.52% are widowed.

    The average household size is 2.9 people per dwelling, and the median household monthly income is estimated to be $7,844. The median monthly mortgage repayment for households in this suburb is $2,105 which is 26.84% of their earnings.

    Source: ABS Census Data (2021)

  2. Devon Meadows, with the postcode 3977, is located in VIC, Australia. It’s a suburban gem, home to an estimated 637 households. As the sun set on Q3 of 2023, we could see that the typical house prices in Devon Meadows were noticeably evolving, resting at $1,241,128 AUD. Median weekly rents, on the other hand, were measured at $660, which presents an indicative yield of 2.77%.

    Peering closely at the fundamental metrics, we note the IRSAD score, an indicator of the suburb’s socio-economic status. Devon Meadows boasts a score of 984 out of 1217, suggesting that the population has a good engagement with the local economy and a healthy access to financial resources.

    Furthermore, the renters here enjoy an excellent spectrum of choice as the renter to owner ratio is sitting at a low 13%. It means there’s less competition among investors. And here’s the cherry on top, the units to houses ratio is at a very favourable 0%, signalling a strong preference for family housing and a lesser competition between landlords for tenants.

    The affordability index has a measurement of 62 years. While this is an indicator towards the higher end, it is essential to remember that property markets can have their own unique pulls, and a slightly higher than average affordability index can be outweighed by other market variables.

    Shifting focus to supply metrics, it’s interesting to observe that the stock on market Percentage for houses is at a favourable 0.16%, indicating a low supply. The inventory levels corresponding to the houses in Devon Meadows peak at just 0.86 months, reiterating the low supply narrative of the market. However, it’s worth considering that the building approvals Ratio is on the higher side at 43.01%, indicating potential future supply.

    Within the demand metrics, the suburb’s real estate market’s attractiveness and demand can be inferred from the Days on Market, which stands at 73 days. Additionally, the vacancy rate (for both houses and units) in Devon Meadows rings in at 1.25%, falling into a neutral area. Furthermore, the buy search index for houses at 4 indicates a reasonable degree of demand within this region.

    Investors need to note the blend of favourable and neutral demand-supply metrics characterising the Devon Meadows housing market, coupled with good socio-economic score and low renter to owner ratio. Overall, while the suburb showcases intriguing promise, it is always recommended to consider more comprehensive property market research like the RCS metric by HTAG analytics to make the most suitable 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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