Fraud Blocker

Patterson Lakes, VIC 3197

Home » VIC Real Estate Data » Kingston City, VIC » Patterson Lakes, VIC 3197

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 Patterson Lakes, VIC 3197 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™

Upgrade to Professional Plan to see the score

Capital Growth RCS™

Upgrade to Professional Plan to see the score

Cashflow RCS™

Upgrade to Professional Plan to see the score

FREE Investment Property Checklist

Secure your golden ticket to property investment success! Get our meticulously crafted Property Investment Checklist upon subscribing to our newsletter. It’s jam-packed with valuable insights from prime locations to specific building nuances.

Essentials
No Price Data
Loading…

Upgrade to Personal Plan to see forecasts on the graph above.

No Rent Data
Loading…

Upgrade to Personal Plan to see forecasts on the graph above.

Upgrade to Personal Plan to see Yield data.
Yield chart
Upgrade to Professional Plan to see Growth Rate Cycle data.
GRC chart
Fundamentals
Upgrade to Personal Plan to see IRSAD data.
IRSAD chart
Upgrade to Personal Plan to see U|H and R|O data.
Renters to owners pie chart
Upgrade to Personal Plan to see U|H and R|O data.
unit to houses pie charts
Upgrade to Personal Plan to see Demand Profile data.
Demand chart
Upgrade to Professional Plan to see Affordability Index data.
Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

Upgrade to Professional Plan to see Stock On Market trend.
SOM chart
Upgrade to Professional Plan to see Inventory trend.
Inventory chart
Upgrade to Professional Plan to see Building Approvals trend.
Inventory chart
Upgrade to Professional Plan to see Hold Period trend.
Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

Upgrade to Professional Plan to see Days On Market trend.
DOM chart
Upgrade to Professional Plan to see Vacancy Rate trend.
Inventory chart
Upgrade to Professional Plan to see Search Index trend.
Index chart
Upgrade to Professional Plan to see Clearance Rate trend.
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.

0 thoughts on “Patterson Lakes, VIC 3197”

  1. The total adult population (15 years or older) of Patterson Lakes 3197 VIC is 6,552, with a median age of 46. Of those, 51.27% are married, 14.06% are divorced or separated, 28.97% are single and 5.69% are widowed.

    The average household size is 2.5 people per dwelling, and the median household monthly income is estimated to be $9,556. The median monthly mortgage repayment for households in this suburb is $2,100 which is 21.98% of their earnings.

    Source: ABS Census Data (2021)

  2. Nestled in the state of Victoria, PATTERSON LAKES 3197 is a charming suburb nurturing around 3,605 households as of the third quarter of 2023 (Q3 2023). A thoughtful consideration for property investors, the typical price for houses in this area stands at a robust $1,296,512 AUD, while median weekly rents loom around $711 AUD, indicating a yield potential of 2.85%.

    The IRSAD score, assessing the socio-economic conditions of the region, is an encouraging 1,042 out of 1,217. This suggests that the population here enjoys a solid access to socio-economic resources, representing a concentration of qualified professionals and comfortable income levels.

    Adding to the area’s charm is its renter to owner ratio, clocking at 15%. This signifies an under-saturated rental market that dims competition amongst property investors, potentially leading to steadier returns in the long run. The units to houses ratio also holds a favourable position at 21%, indicating a low influx of units penetrating the market. This again works in the favour of landlords who can commodiously attract longer tenancy periods, bolstering rental yields.

    Despite its lure, the affordability index for houses in PATTERSON LAKES 3197 is at 53 years. Although this indicates a challenging market for local buyers, it could result in increased demands for rentals, an attractive opportunity for property investors.

    Considering the supply metrics in the region, the stock on market Percentage lies at a low 0.29%, signalling a limited supply, while the inventory stands at 0.98 months, again reinforcing the limited supply of properties. The building approvals Ratio is at 0.25%, affirming the slow growth in supply of new dwellings and potentially mitigating the risk of oversupply for property investors.

    As for demand metrics, houses in Patterson Lakes take an average of 58 days to sell, reflecting a reasonably high demand. The vacancy rate, encompassing both houses and units, presents a low figure of 1.28%, further underscoring the high demand with a constrained supply. A buy search index for houses at 4 equates to neutral demand in the region, signalling stable interest from potential homebuyers.

    With a majority of essential, fundamental, supply and demand metrics in PATTERSON LAKES 3197 sitting in favourable ranges, the suburb threads as a promising hub for property investors. However, a transparent understanding of the prevalent market data is crucial in weaving a successful investment story. Stay updated with market trends and make timely, informed property decisions accordingly.

    For a handy insight into each of these metrics and the holistic property market trends of Patterson Lakes 3197, consider consulting the RCS (Relative Composite Score) published by HtAG Analytics. This comprehensive score collates over 80 metrics to furnish an automatized property market analysis, saving precious research time while synchronising you with the latest market pulse.

    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.

Leave a comment