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Harkness, VIC 3337

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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 Harkness, VIC 3337 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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3BR

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5BR

Rent 

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Yield 

2BR

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5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

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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 “Harkness, VIC 3337”

  1. The suburb of Harkness, with the postcode of 3337, is located in Victoria and is home to a thriving community of approximately 4714 households. As of Q3 2023, the typical house price in Harkness is an attainable $567,518 with the median weekly rent sitting at $379. The indicative yield of 3.47% is above the minimum attractive market requirement for cash-flow-oriented property investors.

    It’s notable that Harkness has a socio-economic score of 935 out of 1217, showcasing a reasonably well-off population with relatively high access to economic resources. Furthermore, this suburb presents a favourable renter to owner ratio of 28% and a low units to houses ratio of just 6%. These percentages signify a lower level of competition among landlords for tenants and an overall appeal for families eyeing longer tenancy periods.

    The affordability index, depicting the estimated duration required to wholly own a property, is 31 years. While marginally exceeding the commonly considered favourable years to own timeframe, this can still be manageable given the overall attractive nature of the market.

    When analysing the supply metrics of Harkness, stock on the market percentage for houses is 0.64%, and the inventory level for houses is 1.78 months. Both figures suggest that supply and demand in this suburb are relatively balanced. The building approvals Ratio for houses is also under the threshold of 2% at 0.98% indicating a lower likelihood of a supply glut in the near term.

    Further into demand metrics, houses in Harkness showcase a ‘Days on Market’ value of 62 indicating a reasonable demand. The vacancy rate for combined houses and units is at a favourable 1.46%, and the buy search index for houses sits at 3. While this may indicate limited demand, it’s important to consider the overall market trend.

    Despite a few metrics slightly straying into less favourable ranges, Harkness presents itself as a potential contender for property investment given the majority of favourable indicators. Harkness demonstrates strength in its socially and economically vibrant community, affordability, and the rental yield. This data-driven insight about the property market assures more informed and beneficial investment decisions for property investors and buyers agents.

    It’s also worth noting that the HtAG Analytics’ Relative Composite Score (RCS), which automates the analysis of over 80 metrics, can further offer a more comprehensive and in-depth understanding of the property markets.

    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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