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Narre Warren South, VIC 3805

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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 Narre Warren South, VIC 3805 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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3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

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Yield 

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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 “Narre Warren South, VIC 3805”

  1. The total adult population (15 years or older) of Narre Warren South 3805 VIC is 24,117, with a median age of 34. Of those, 53.51% are married, 8.45% are divorced or separated, 35.00% are single and 3.01% are widowed.

    The average household size is 3.4 people per dwelling, and the median household monthly income is estimated to be $8,696. The median monthly mortgage repayment for households in this suburb is $1,937 which is 22.27% of their earnings.

    Source: ABS Census Data (2021)

  2. The suburb of Narre Warren South, with postcode 3805, is nestled within Victoria and boasts an estimated 9730 households. As we move into Q3 of 2023, the local property market displays a typical house price of $892,535. Further down the scale, houses in this area rent at a median price of $475 per week, generating an indicative yield of 2.77%.

    The area carries an IRSAD score of 993 out of a possible 1217. This fairly high score indicates a population with respectable socio-economic status, potential access to viable economic resources and a likely prevalence of skilled professions. This socio-economic stability makes it a place to consider when making property investments.

    Performance-wise, property owners in Narre Warren South benefit from a renter to owner ratio of just 17%. This is advantageous as a low ratio reduces the risk of oversaturation, spontaneous price drops and large scale vacancies. Adding to these positive metrics, the suburb also witnesses a 1% units to houses ratio, supporting a healthy market for prospective landlords and reducing tenant competition for higher rental yields.

    However, the affordability index is 40 years, indicating a lesser degree of home ownership accessibility for locals as it rests above the standard 30-year mortgage expectation. This could deter some investors, but when combined with other favourable metrics, it is not an automatic deal-breaker.

    Providing additional insight into the supply side of the equation, Narre Warren South boasts a favourable stock on market percentage for houses at a low 0.34%. Paired with an inventory level of 1.16 months, these figures indicate an attractive market with lower supply. Plus, homes for sale remain on the market for an average of 34 days – another promising indication of high demand.

    The vacancy rate of 2.05% for both houses and units exudes a neutral demand, providing yet another positive sign for potential investors. Now consider the buy search index for houses that stands at 3. The neutrally-ranked index points towards a maintained interest among potential property buyers.

    Overall, whilst Narre Warren South does not tick every box for property investment, it excels in certain areas and these should not be overlooked. As always, comprehensively understanding the local property market, and tracking the trends with tools like RCS developed by HtAG Analytics, will provide an excellent guidance in real estate investment decisions. So keep your eye on Narre Warren South, it may be more promising than it appears at first glance.

    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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