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Hoppers Crossing, VIC 3029

Home » VIC Real Estate Data » Wyndham City, VIC » Hoppers Crossing, VIC 3029

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 Hoppers Crossing, VIC 3029 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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Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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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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Supply

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Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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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.

Have a question? You can either leave a comment below or post it on our forum.

5 thoughts on “Hoppers Crossing, VIC 3029”

  1. The total adult population (15 years or older) of Hoppers Crossing 3029 VIC is 30,147, with a median age of 37. Of those, 49.17% are married, 11.41% are divorced or separated, 35.29% are single and 4.13% are widowed.

    The average household size is 2.8 people per dwelling, and the median household monthly income is estimated to be $7,172. The median monthly mortgage repayment for households in this suburb is $1,600 which is 22.31% of their earnings.

    Source: ABS Census Data (2021)

  2. Hoopers Crossing, VIC 3029 is in my view the epitome of the hidden gem.

    Before we move onto looking at the market snapshot, lets first inquire into its past growth.

    In the last three years, the growth of Hoopers Crossing, VIC 3029 has slowed down—it has growth only 16.7% in the last three years. This nis interesting considering that mots areas in Australia have grown substantially in the last three years, before the rise of interest rates, given the macroeconomic conditions of low borrowing cost.

    Its 10-year growth is sitting at 97.69%, suggesting that the area has doubled in value in the last cycle. This is always a good sign and is indicative of solid market fundamentals.

    The growth in rents has not seen the increase that occurred in capital growth. In the last decade, rents have increased by 32.73%. This suggest that Hoopers Crossing, VIC 3029 is more suited for a capital growth focused portfolio strategy.

    Now lets looks at the market snap shot—yield only 2.51% at the moment, indicating, as mentioned, the areas main growth was seen in the capital growth domain.

    This is also evident from the RCS scores. Let’s see what they are and what they mean.

    WHY:

    With a Relative Composite Score (RCS) of:

    1. 95 / 100 for risk;
    2. 41 / 100 for cashflow;
    3. 95 / 100 for capital growth;
    4. 77 / 100 score for overall.

    The RCS scores for Hoopers Crossing, VIC 3029 in good order. Its overall score of 77 is in the top 5% of Australia. How do we know this? Well, there are 5,686 suburb entries in HtAG Analytics tables and Hoopers Crossing, VIC 3029 is in the top 207 entries for the overall score. You can find this out by filtering and introducing conditions ta the home page (make sure you toggle to suburbs, not councils).

    The suburb has a score of 95 for risk, which also puts it in the top 5% (3% to be exact). This means there is virtually no risk of investing in Hoopers Crossing, VIC 3029.

    What are some of the metrics that form part of HtAG Analytics risk scores:

    • Flood risk;
    • Bushfire risk;
    • Costal and/or river erosion risk;
    • IRSAD;
    • Renter to owner ratio;
    • GRC;
    • Average age of properties;
    • Average monthly sales volume;
    • Average monthly rentals volume;
    • Error rate;
    • Plus, over 60 other metrics….

    The suburb also has a capital growth of 95, which also puts it in the top 5% (3% to be exact).

    Its cash flow score is 41, which is just a tad over the 50th percentile. This is not a surprise given such a high score for capital growth.

    A rule of thumb is that exorbitant growth cannot be seen in both domains—either one substantially growth or the other.

    Overall, its RCS scores confirm my previous observation that Hoopers Crossing, VIC 3029 is the epitome of the hidden gem. This is only is one’s strategy is capital growth focused.

    Let’s look at other important metrics that buttress or form part of the RCS:

    Fundamentals

    ISRAD score: 3 — the ISRAD metric highlights the socio-economic standards of the area in question. For Hoopers Crossing, VIC 3029, the score of 8 represents balanced conditions. In the context of other data, this score is not a deal breaker. It just reinstates that we should not find any surprises with respect to the socio-economic conditions of the area which is inadvertently exemplified in the doubling of the areas typical price in the last decade.
    Investment is about balancing a multitude of different metrics to predict the future so a single variable is usually not the Holy Grail.

    Be patient, we need to look at other metrics.

    R|O Ratio: 26% — this relatively balanced score and one that is favourable for price growth. In comparison to Wyndham City Council, which score is 38%, Hoopers Crossing represents a stand out and potentially a much more liveable place in comparison to its Council areas. This is something to take note off.
    The flow on effect from this data point can go like this:

    Balanced or favourable R|O ration = better liveability = higher hold periods = restricted supply = price growth.

    Side note about hold periods: In simple terms, data indicates that people who own their homes are more likely to either sell them after a short period or keep them for a long time. On the other hand, investors are more likely to sell them after a few years.

    U|H Ratio: 7% — In addition to above, this figure is also extremely favourable, suggesting that area supports larger family compositions which tends to add to the stability of the area.

    The flow on effect is usually exemplified as such:

    Higher proportion of units = higher proportion of renters which = surplus in the supply of properties due to more change over (lower hold periods) in rental in comparison to owner occupier properties = subdued price and rental growth.

    GRC: its GRC is very favourable for many reasons, most of which relate to the evident cyclicality in the market. This is suggestible of healthy market fundamentals—the cyclical nature of growth and decline immediately indicates that the area is not supported by a single industry or unfavourable demographics.

    A general rule of thumb is—is there are no cycles to the GRC and if there are also outlier sharp increases and decreases in the growth rate of an area, this is indicative of unbalanced market fundamentals with respect to industry and demographics.
    The only negative I can find with the GRC is that it has crossed into the negative growth territory twice in the past, once around 2012 and the second time in 2019. I usually have a rule to take a close look into other metric for areas that have crossed the ‘zero threshold’.

    Supply Metrics

    Before I move on the statistics, I will say that all supply metrics for Hoopers Crossing, VIC 3029 are favourable, meaning that has been a restriction on the supply of new properties to the market.

    SoM%: 0.20% (28 listings)

    Inventory: 0.66 months
    Hold Periods: 13.13 years

    Not only are these statistics all very opportunistic, but their respective trend lines are moving all in accordance with putting more pressure on the restriction of the supply.

    SoM% trend line is reducing = restricted supply = price growth all things being equal;

    Inventory trend line reducing, rather dramatically = restricted supply = price growth all things being equal;

    Hold periods increasing, rather dramatically = restricted supply = price growth all things being equal;

    On top of all of this BA Ratio is at 0.09%, which is extremely opportunistic meaning there is no new property scheduled to be introduced into the area to balance the reduced supply.

    Demand Metrics

    Demand metric, in combination with the supply metrics, highlight a perfect storm. Let’s dive deeper.

    DoM: 37 — this is a rather balanced figure meaning that the reducing supply will not be offset by reducing demand. This means prices are definitely poised for further growth. More importantly, the trend line of DoM has been reducing, meaning that demand has gradually been increasing for properties in Hoopers Crossing since 2020.

    Vacancy Rate: 1.27% (224 vacancies)—This is a balanced figure meaning that again the reducing supply will not be offset by reducing demand. More importantly, same as DoM, the trend line for the vacancy rate has been reducing, rather dramatically, since 2020.

    Judging by DoM and vacancy rate statistics, the demand has been increasing while, as seen in the supply metrics, supply has been increasing, hence my ‘perfect storm’ observation.

    Overall, I am really happy with the data on Hoopers Crossing, VIC 3029. The area would definitely form part of my shortlist.

    For a cheat sheet which highlights what are unfavourable, balanced and opportunistic statistics, refer to our Data Dictionary.

    If you want something similar with better metrics, have a look at Brighton, QLD 4017 which I did an overview for recently.

  3. The suburban area of Hoppers Crossing 3029, positioned within Victoria, houses about 15,305 households. The property market of this suburb demonstrates some impressive metrics surrounding market health and investor viability. As we delve into Q3 of 2023, the classic features of houses in Hoppers Crossing 3029 garner a substantial typical price of $766,521. A median weekly rent of $373 is also noted, leading to an indicative yield of 2.53%. Whilst this yield trails slightly behind the 3% threshold that cashflow-focused property investors often seek, the suburb holds elements of appeal in other areas.

    Hoppers Crossing 3029 exhibits an encouraging socio-economic score (IRSAD) of 945 out of 1217, pointing towards strong financial resources, attractive income brackets and a professional population base within the region. The renter to owner ratio rests at 26%, a statistic under the 30% threshold, indicating an ideal balance of ownership in the area. This can lead to healthier market returns and a lower risk of competition with other property investors.

    In terms of market supply, Hoppers Crossing demonstrates a favourable units to houses ratio of 7%. Deemed as an attractive statistic for landlords, there is minimal competition for prospective tenants, with the likelihood of a more family-oriented demographic seeking longer tenancy periods.

    Despite an affordability index of 42 years that surpasses the standard 30-year mortgage timeframe, a testament to the high demand in the suburb, the suburb still ticks boxes in other supply and demand metrics. The stock on market Percentage sits at a promisingly low 0.38%, asserting a limited supply segment. Moreover, the inventory level for houses only amounts to 1.31 months. With considerations to building approvals, the ratio is significantly low at 0.09%, indicating minimal likelihood of an oversupply of new properties on the market.

    Market demand shows encouraging signs as well. Houses only spend an average of 34 days on the market, well below the 90-day threshold, signalling a well-maintained demand from buyers. The vacancy rate is also relatively neutral, standing at 1.17%, while the buy search index for houses charts a neutral 3. By analysing these metrics and considering their trends as illustrated in the dashboard, an investor can make an informed decision on investing in Hoppers Crossing 3029. With the support of the HtAG analytics RCS metric, these considerations are significantly simplified by offering an overarching view of the market using 80 metrics.

    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.

  4. Point Cook sat comfortably with an IRSAD score of 1066 out of 1217 hence the IRSAD arrow was pointing towards green colour.

    Hoppers Crossing 3029 exhibited an encouraging socio-economic score (IRSAD) of 945 out of 1217, pointing towards strong financial resources, attractive income brackets and a professional population base within the region. But still the IRSAD arrow was at orange colour for the suburb? Shouldn’t it also point towards the green colour?

    Keen to learn and understand the HtAG metrics hence leaving a query here.

    Thanks

    • Hi Ritesh,

      The displayed graph utilises IRSAD deciles, a rank score that ranges from 1 to 10, computed from the raw score by the ABS.

      Since the distribution of raw IRSAD scores tends to be skewed, employing deciles offers a more accurate method for comparing various markets.

      Put simply, opt for deciles when contrasting markets across Australia. Use raw scores in the comments when looking to glean a nuanced understanding of individual markets.

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