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Grovedale, VIC 3216

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 Grovedale, VIC 3216 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

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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 “Grovedale, VIC 3216”

  1. The total adult population (15 years or older) of Grovedale 3216 VIC is 12,568, with a median age of 41. Of those, 43.56% are married, 11.84% are divorced or separated, 36.77% are single and 7.89% are widowed.

    The average household size is 2.4 people per dwelling, and the median household monthly income is estimated to be $7,560. The median monthly mortgage repayment for households in this suburb is $1,582 which is 20.93% of their earnings.

    Source: ABS Census Data (2021)

  2. GROVEDALE 3216, situated in Victoria, is a neighbourhood comprising approximately 7079 residences. As we approach the end of Q3 2023, the prevailing price for houses in GROVEDALE 3216 stands at around $667735. These properties command a median weekly rental of $498, yielding an enticing 3.88% – a figure surpassing the minimum 3% market requirement for cash flow-based investors.

    The community displays an IRSAD score of 972 out of a possible 1217, indicating a relatively healthy socio-economic environment with substantial access to financial resources.

    A look at the renter to owner ratio – 26% – shows a deep-seated presence of property owners, suggesting an attractive investment opportunity with little competition for tenants. Moreover, the units to houses ratio of 10% underscores the presence of fewer units on the market, further pushing down landlord competition.

    However, the suburb’s affordability index reading of 35 years highlights a certain degree of inaccessibility, given that the metric surpasses the 31-year benchmark.

    The stock on market Percentage is an ultra-low 0.23%, indicating positive market conditions with limited supply. Additional reassurance comes from an inventory level for houses of just 0.84 months – further spelling out favourably low supply.

    Building Approvals Ratio for houses maintains at 1.27%, pointing to a relatively stable supply of new dwelling stock.

    Equally important is the days on market indicator, which stands at 25, indicating a high demand for properties in GROVEDALE 3216.

    The suburb’s vacancy rate combines data for both houses and units, standing at 1.68%, suggesting a height of demand above the Australian average.

    To cap it all, the buy search index for houses records a four – a definitive sign of moderate yet steady demand from potential buyers in the area.

    It’s key to note that while some metrics in GROVEDALE 3216 might be in the unfavourable range, the majority are favourable, pointing to a generally promising property market. The HtAG Analytics’ RCS further automates the deep-dive analysis, using 80+ metrics for a more rounded perspective. Understanding such market data is vital as it can significantly inform your property investment decision-making.

    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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