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Junction Village, VIC 3977

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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 Junction Village, 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.

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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 “Junction Village, VIC 3977”

  1. The total adult population (15 years or older) of Junction Village 3977 VIC is 915, with a median age of 54. Of those, 36.17% are married, 16.72% are divorced or separated, 29.62% are single and 17.92% are widowed.

    The average household size is 2.2 people per dwelling, and the median household monthly income is estimated to be $6,888. The median monthly mortgage repayment for households in this suburb is $1,733 which is 25.16% of their earnings.

    Source: ABS Census Data (2021)

  2. Situated in the state of Victoria, the suburb of Junction Village 3977 is home to approximately 1102 households. Probing into Q3 of 2023, the typical prices for houses in this suburb are found to be at $796,130. Combine this with a median weekly rent of $573, and property investors see a compelling indicative yield of 3.75%.

    Diving into the fundamental metrics, Junction Village scores an IRSAD rate of 890 out of a possible 1217, demonstrating a decent socio-economic status of the local populace. An impressively low renter to owner ratio of 14% is noticed, indicating a stable property market with less renter saturation. Adding to it, the units to houses ratio is a minimalistic 6%, showing fewer units (like apartments, flats, studios), thus less competition amongst landlords for prospective tenants.

    Examining the affordability index reveals that it would take an estimated 45 years to fully own a property in this area, a figure exceeding the standard 30-year mortgage duration, hence hinting at a slightly decreased affordability.

    Turning to supply metrics, a stock on market Percentage of 2.94% and an inventory level of 14.67 months pose a debatable scenario. Given the higher SoM percentage, there might be high supply; however, the vast inventory level suggests a equivalent demand, balancing the market dynamics.

    A Building Approval Ratio of 2.4% suggests a slight rise in the construction of new homes, insinuating a potential increase in future supply of houses. The average days on market for house listings is a strikingly low 19 days, showing high demand for properties in Junction Village.

    Moreover, the vacancy rate of 1.95% indicates a healthy balance, with neither excessive demand nor copious housing supply. The buy search index for houses sits at a solid 3, indicating average demand as per the state/city.

    In summation, Junction Village offers a stable property market with appealing yields, balanced supply-demand dynamics, and a strong socio-economic landscape. It is advisable for investors to keep a watchful eye on this suburb for potential real estate opportunities. However, it’s vital to note that trends matter and using automated tools such as RCS (Relative Composite Score) by HtAG Analytics can simplify the process of market analysis.

    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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