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Wyndham Vale, 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 Wyndham Vale, 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

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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 “Wyndham Vale, VIC 3024”

  1. The total adult population (15 years or older) of Wyndham Vale 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. Wyndham Vale 3024, located in Victoria, holds approximately 10,397 households making it a thriving community. As we delve into Q3 of 2023, the typical prices for houses in this area are hovering around $626,494. With the median weekly rent settling at $361, this offers an indicative yield of 3.0% – making it an attractive option for cashflow-focused property investors.

    The suburb’s IRSAD score sits at 956 out of a possible 1,217, demonstrating that residents here enjoy a reasonably high socio-economic status. In combination with the renter to owner ratio of 31% and low units to houses ratio of 4%, the area presents a balanced market with lesser competition amongst landlords. This bodes well for higher rental yields and longer tenancy periods, enhancing the appeal of the area.

    Acknowledging the affordability index, it would take an estimated 29 years to completely own a property here – a favourable benchmark that falls within the 30-year mortgage timeline. This indicates a high degree of affordability within the local community and potential for future market growth.

    The stock on market Percentage for houses is 1.22%, placing it in the neutral range. Whereas, the inventory level for houses stands at 3.54 months indicating a well-absorbed property market.

    However, an area of concern could be the building approvals Ratio for homes averaging at 2.4%, slightly tipping the scale towards an increased supply of new dwellings, which investors would need to consider.

    On the brighter side, houses are typically on the market for 33 days – a relatively short period reflecting a higher demand for homes. Similarly, the area’s vacancy rate for both houses and units is a modest 1.84% indicating that there’s a favourable balance of demand and supply in residential rentals.

    Lastly, the buy search index for houses sits at 3 suggesting a neutral level of interest amongst prospective buyers.

    In conclusion, while certain metrics like the Building Approval Ratio and buy search index could use a boost, the majority of the metrics such as IRSAD score, Affordability Index, and days on market suggest that the suburb of Wyndham Vale 3024 remains an attractive proposition for property investors.

    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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