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Manor Lakes, VIC 3024

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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 Manor Lakes, VIC 3024 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 

2BR

3BR

4BR

5BR

Rent 

2BR

3BR

4BR

5BR

Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

3BR

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 “Manor Lakes, VIC 3024”

  1. The total adult population (15 years or older) of Manor Lakes 3024 VIC is 15,289, with a median age of 31. Of those, 48.56% are married, 10.81% are divorced or separated, 37.59% are single and 3.05% are widowed.

    The average household size is 3.0 people per dwelling, and the median household monthly income is estimated to be $7,568. The median monthly mortgage repayment for households in this suburb is $1,733 which is 22.90% of their earnings.

    Source: ABS Census Data (2021)

  2. Homed in Victorian state is the suburb of MANOR LAKES 3024, hosting an estimated 5,502 households. As we meet Q3 of 2023, this suburb shows averages house prices of $649,228, and a median weekly rent pegged at $386, collaboratively offering an indicative yield of 3.09%. This yield meets the minimum requirement of 3%, making it a potential market for cash-flow centered property investors.

    The IRSAD score of Manor Lakes is currently at 1028 out of 1217. This relatively high score indicates a promising socio-economic status of the constituents, reflecting a proportionally high income level, excellent economic accessibility, and the prevalence of skilled professions within the suburb.

    The properties in Manor Lakes presents a renter to owner ratio of 31%, suggesting it slightly overflows the threshold of 30%. This hints at a slight oversaturation of rental properties but is not necessarily disadvantageous, given its balanced units to houses ratio. There are no units; all properties are houses, a rare and desirable situation as it limits competitions among landlords and boosts family-based, long-term tenancies.

    Manor Lakes also showcases a favorable affordability index. With a score of 30 years, it falls within the desirable range beneath 31 years, suggesting high property affordability for potential purchasers. This is coupled with a favourable low stock on market percentage of 0.24% and inventory level for houses residing at 1.27 months, applying low pressure on new listings.

    The building approvals Ratio also leans towards the favourable side, currently positioned at 0.92%, well clear of the 2% high-supply threshold. The average on-sales listing duration, or days on market for properties in Manor Lakes, balances at 49 days. Although this falls slightly above the highly-desirable threshold of 35 days, it is not excessively long.

    Significantly, the vacancy rate for Manor Lakes properties (combined houses and units) is a highly favourable 0.93%, indicating a high demand with limited supply. The buy search index is at 3, hitting the neutral range.

    Despite certain metrics slightly verging on the high side, the overall blend of metrics is favourable, from the highly desirable units to houses ratio, strong socio-economic score, to the affordable index. It’s worth noting that HtAG Analytics’ Relative Composite Score, which is based on a spectrum of over 80 metrics, automates this elaborate research process, providing an excellent tool for property investors and buyers agents examining suburbs like Manor Lakes 3024.

    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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