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Noble Park North, VIC 3174

Home » VIC Real Estate Data » Greater Dandenong City, VIC » Noble Park North, VIC 3174

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 Noble Park North, VIC 3174 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.

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Yield 

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Buy 

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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 “Noble Park North, VIC 3174”

  1. The total adult population (15 years or older) of Noble Park North 3174 VIC is 6,176, with a median age of 40. Of those, 49.16% are married, 12.19% are divorced or separated, 32.76% are single and 5.81% are widowed.

    The average household size is 2.7 people per dwelling, and the median household monthly income is estimated to be $6,896. The median monthly mortgage repayment for households in this suburb is $1,757 which is 25.48% of their earnings.

    Source: ABS Census Data (2021)

  2. Noble Park North, postcode 3174, is nestled within the state of Victoria and is comprised of an estimated 3062 households. In the third quarter of 2023, the typical house price in Noble Park North clocked in at $749,166, with its median weekly rent sitting at $433. The resulting indicative yield of 3.01% displays adequate cash flow prospects for potential investors.

    From a socio-economic standpoint, the suburb garners an IRSAD score of 936 out of a possible 1217, signaling a decent socio-economic status within the area. The renter to owner ratio rests at 26% suggesting that the market isn’t overburdened with rental properties and promises a healthy level of long-term returns. Another promising element in Noble Park North’s property makeup is its units to houses ratio, which at only 11% indicates less competition among landlords for tenants and an environment conducive to maintaining higher rental yields.

    Despite these positive factors, Noble Park North does present an important consideration; it measures an affordability index of 43 years. This index, significantly higher than the 30 years considered favourable, implies decreased affordability in the area.

    In terms of supply metrics, the suburb reveals slightly neutral leaning conditions with a stock on market Percentage for houses at 0.68% and a reasonably absorbent market with an inventory level of 3.43 months. The building approvals Ratio for houses is placed at a favourable 0.3%, suggesting a low increase in new dwelling stock in the market.

    Noble Park North’s performance in demand metrics suggests a high demand climate. The average number of days on market (DoM) for houses is only 14 days, while its Vacancy Rate, combined for houses and units, lies at an appealing 0.63%. buy search index however lands at a neutral 3, emphasising an average online buying interest.

    While some metrics may slightly veer into the unfavourable spectrum, the majority attributes demonstrate favourable conditions in the suburb of Noble Park North. It underscores the necessity to closely monitor market conditions and make informed property investment decisions. A practical tool to help in such monitoring is the RCS (Relative Composite Score) metric by HtAG Analytics that uses over 80 metrics to aid in real estate market analysis.

    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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