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Harkaway, VIC 3806

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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 Harkaway, VIC 3806 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.

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Rent 

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Yield 

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Buy 

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Rent 

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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 “Harkaway, VIC 3806”

  1. The total adult population (15 years or older) of Harkaway 3806 VIC is 796, with a median age of 40. Of those, 57.16% are married, 8.79% are divorced or separated, 30.40% are single and 2.89% are widowed.

    The average household size is 3.2 people per dwelling, and the median household monthly income is estimated to be $11,652. The median monthly mortgage repayment for households in this suburb is $2,307 which is 19.80% of their earnings.

    Source: ABS Census Data (2021)

  2. Situated in Victoria, HARKAWAY 3806 is a charming suburb that is home to an estimated 397 households. In the Q3 2023, the typical pricing for houses in the area stood at a substantial $1,563,427 AUD. The median weekly rent for these properties has plateaued at $950 and records an indicative yield of an attractive 3.15%.

    This suburb boasts an impressive IRSAD score of 1093 out of 1217, suggesting a high socioeconomic status of the residents characterised by considerable access to economic resources, affluent income levels and a prevalence of skilled professions.

    Another significant factor influencing the property market dynamics in HARKAWAY 3806 is its renter to owner ratio. With a mere 6%, the concentration of rental properties is low, making for an appealing market for potential homeowners. The units to houses ratio is virtually non-existent at 0%, further strengthening the appeal of this market for investors who favour locations less saturated by rental properties.

    Despite substantial property prices, the affordability index in this location is quite high at 55 years. While this might seem daunting, it’s an expected trend in line with the price range and the affluent profile of the area.

    Supply metrics in HARKAWAY 3806 indicate a dynamic market with a stock on market Percentage for houses situated at a modest 0.76%, lying within the neutral range. This is reinforced by an inventory level for houses of 3.27 months, suggesting a balanced offering of properties. The building approvals Ratio for houses is 1.51%, which indicates a tempered supply of new dwellings.

    Regarding demand, houses in HARKAWAY 3806 sell relatively quickly with an average of 24 Days on Market. Though the combined vacancy rate for houses and units is slightly higher than ideal at 8.33%, the buy search index for houses remains stable at 3.

    These snippets of the property market story in HARKAWAY 3806 clearly underline the importance of duly understanding indicators to make informed real estate decisions. Staying alert, monitoring market developments and leveraging expert tools like the RCS (Relative Composite Score) developed by HtAG Analytics, are keys to identifying beneficial investment opportunities.

    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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