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Caroline Springs, VIC 3023

Home » VIC Real Estate Data » Melton City, VIC » Caroline Springs, VIC 3023

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 Caroline Springs, VIC 3023 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 “Caroline Springs, VIC 3023”

  1. The total adult population (15 years or older) of Caroline Springs 3023 VIC is 18,880, with a median age of 35. Of those, 52.35% are married, 10.32% are divorced or separated, 34.41% are single and 2.92% are widowed.

    The average household size is 3.1 people per dwelling, and the median household monthly income is estimated to be $9,084. The median monthly mortgage repayment for households in this suburb is $1,950 which is 21.47% of their earnings.

    Source: ABS Census Data (2021)

  2. Caroline Springs, postcode 3023, is a vibrant suburban terrain neatly tucked away in the heart of Victoria. The locale is characterised by a robust assortment of 8,959 households which are a blend of varying financial capabilities, opportunities and preferences. As we look into the real estate dynamics for Q3 in 2023, the area presents an interesting prospect for investors, property buyers and renters alike.

    The standard pricing for houses in Caroline Springs stands at AUD$838,543, accompanied by a median weekly rental cost pitched at $434. These figures bring about an indicative yield of 2.69%, slightly below the benchmark of 3% indicative yield. Despite straying slightly below ideal yield margins, returns could be bolstered by the socio-economic fabric of Caroline Springs. The IRSAD score here reads 1012 out of a potential 1217, suggesting an above-average socio-economic profile.

    Property ownership in the suburb is more prevalent as depicted by the renter to owner ratio at 22% which falls within acceptable low-risk investment thresholds. The competitive edge of the property market further shines through the relatively low units to houses ratio at just 5% – a prime setup for less rivalry amongst landlords and consequently higher rental yields.

    However, investors need to consider the affordability index, which stands at 36 years, a little over the typical 30-year mortgage. This hints at a somewhat challenging environment for full property ownership due to elements like interest rates and property prices.

    Supply variables within Caroline Springs promote a moderate investment landscape. The suburb’s stock on market Percentage tallies at 0.95%, categorised in the neutral supply zone. This is consolidated by an inventory scale of 2.9 months, suggesting an apt absorption rate of new property listings.

    Simultaneously, the building approvals Ratio, at a low 0.34%, may hint at future reduced competition in the property market, given the low supply of new dwellings. Houses sell relatively fast in the area, with an average 19 days on the market. Additionally, a vacancy rate of 1.66% in the housing market tilts towards a high demand environment.

    In contrast, the buy search index sits at 3 – another metric calling for cautious interpretation. It falls in the neutral demand zone yet borders on limited demand, requiring a keen eye on trend developments for insightful decision-making.

    All in all, while housing statistics in Caroline Springs may present a blend of metrics, the overall investment scene still shows potential, primarily if strategies account for variable real estate trends, demographic shifts, and economic changes.

    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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