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Highett, VIC 3190

Home » VIC Real Estate Data » Kingston City, VIC » Highett, VIC 3190

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 Highett, VIC 3190 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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Buy 

1BR

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Rent 

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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 “Highett, VIC 3190”

  1. The total adult population (15 years or older) of Highett 3190 VIC is 9,802, with a median age of 40. Of those, 45.00% are married, 13.53% are divorced or separated, 36.70% are single and 4.74% are widowed.

    The average household size is 2.4 people per dwelling, and the median household monthly income is estimated to be $11,152. The median monthly mortgage repayment for households in this suburb is $2,300 which is 20.62% of their earnings.

    Source: ABS Census Data (2021)

  2. The Victorian suburb of Highett 3190 is composed of about 6523 households in its community. By Q3 of 2023, the typical house prices in Highett 3190 reached the mark of $1,509,634, while the median weekly rent stood firm at $710, yielding an indicative figure of 2.45%.

    Based on its IRSAD score, Highett scored 1084 points out of a possible 1217. This strong score suggests that the residents of this suburb generally possess a better socio-economic status, meaning the area enjoys access to a higher level of economic resources, and is populated by high-income earners in skilled professions.

    Looking more closely into the property market, the renter to owner ratio is balanced at 27%, suggesting the area is not oversaturated with rental properties, hence, offering stability for investors concerned about rental returns in the long term. The suburb also has a unit to house ratio of 45%, which is within the favourable range. This implies that there is less competition amongst landlords for tenants, potentially supporting longer tenancy periods and higher tenancy rates.

    In terms of affordability, the area may present a challenge for potential buyers, as the affordability index for houses has stretched to 53 years. This suggests that it would typically take over half a century to fully own a property in Highett, considering current interest rates, median family income, and property prices.

    The stock on market percentage, a measure of supply in the housing market, is significantly low at 0.13% suggesting a high demand for property and competition among potential buyers. The inventory level for houses is at a low 0.39 months, demonstrating a quick market absorption rate for new listings. The Building Approval Ratio for houses in the area was registered at 1.86%, remaining under the threshold that would indicate a surge of new dwelling supply.

    Properties in this suburb spend an average of 22 days on the market, indicating a high demand within the market. Highett’s vacancy rate, when combining both houses and units, stands at 1.56%, indicating a relatively balanced demand. The buy search index for houses was reported to be 3, suggesting a neutral level of demand.

    To summarise, Highett’s property market presents a mixed bag of conditions – with favourable yields, balanced renter-owner ratio, low supply, and high demand trends. However, challenges lie in its stretched affordability and lower buy search index level. As always, investors are advised to maintain a vigilant eye on market trends.

    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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