albanvale

3021, Victoria

Real Estate & Property Information

Median
Price Rank
493

albanvale Suburb Profile & Review

Albanvale is a quaint, lively suburb in Melbourne's west, between Caroline Springs and St Albans. Immigrants from Vietnam, Malta and the Philippines make up a significant proportion of the population. Residents can reach the city in half an hour via the West Gate Freeway, while two bus routes travel to St Albans Station and Brimbank Central Shopping Centre.

Brimbank Central Shopping Centre borders Albanvale and Deer Park. It houses a Target, three supermarkets and over 110 retailers. For families with children there are two schools in the immediate vicinity: Albanvale Primary School and Brimbank College. Victoria University's St Albans campus, which specialises in health and nutrition research, is also less than ten minutes away.

The Isabelle Williams Memorial Reserve houses a newly completed playground and lovely wide open spaces for leisure activities. The Kororoit Creek and the Kororoit Creek trail also boast attractive scenery for nature enthusiasts and cyclists.

albanvale Demographic Data

$ 319,000 Median House Price

29 Minutes Average Commute

36 Median Age

5,221 Population

49.59 % Female

50.41 % Male

1436 NO OF FAMILIES

1.9 AVG CHILDREN PER FAMILY

0.9 AVG MOTOR VEHICLE PER DWELLING

What this means

The following data, without any explanation, is just that, raw data. So in order to help you research the property market, we have outlined what this demographic and real estate information means and how it can be interpreted to help you make a smarter decision when buying or selling your next house or unit in albanvale, Victoria.

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albanvale Demographic Data

The demographic data below has been supplied by the Australian Bureau of Statistics (ABS), which is a government body. It is based on Census data collected every 5 years on the Australian population. Although it is dated 2011, this is the latest data available and should give property investors, property buyers and sellers a very good idea when researching or reviewing their suburb.

It’s important to note when looking at this data that you don’t just use it on its own. Consider this demographic and real estate data as a whole and seek advice from a professional when thinking of buying or selling your next property.

albanvale Median House Prices

  • 2008 $ 215,000
  • 2009 $ 252,000
  • 2010 $ 278,000
  • 2011 $ 320,000
  • 2012 $ 319,000

What this means

Median values are the most accepted measure of property values in the real estate industry in Australia. The median is the midpoint (the middle) figure when all the sold property prices over a particular period of time are ordered from their lowest to their highest value.

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albanvale 5 Year Median House Prices

Here we have outlined the median value for all sales for each year over a period of 5 years. This is a more realistic timeframe when gauging how houses and units in albanvale have performed, and it usually indicates how they will perform in the future.

Median values less than 3 months old are often not always accurate (due to incomplete data) and therefore cannot be relied upon for long-term albanvale property price predictions.

albanvale Market Property Types

  • 97 % Seperate House
  • 2 % Semi Detached
  • 2 % Flat or Unit
  • 0 % Other Dwelling

What this means

The property type in your suburb will help you identify the density of the area. The greater the number of flats, units and apartments, the more likely it is the suburb has a higher density of living and occupants are more reliant on public transport, cafes, restaurants, convenience stores and amenities, infrastructure and less reliant on their own vehicle for transport.

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albanvale Market Property Types

Typically, inner city suburbs within 10km of the CBD are comprised of apartments and semi-detached homes, while middle ring suburbs have semi-detached and detached properties. Rural properties would most likely fall under the “other” category.

This ABS Property Type data combined with Population Density and Family Composition figures gives a good indication of the type of people living in an area and therefore what type of property (1-2 bed apartment or house) would be an ideal investment or property to live in.

albanvale Income & Mortgage Stats

  • $ 962 Median Weekly Household Income
  • $ 1,400 Median Monthly Mortgage

What this means

This is one of the most compelling statistics in this section because it has a profound impact on real estate prices. It should always be considered when buying or selling property in albanvale

Experts believe mortgage stress occurs in real estate when property owners are spending over 30% of their gross income on their mortgage repayments. These figures show weekly income and monthly mortgages.

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albanvale Income & Mortgage Stats

To calculate the percentage of income paid towards a mortgage for the suburb of Melbourne, multiply the mortgage payment (e.g. $2450) by 12 then divide this figure by the weekly income (e.g. $1200) multiplied by 52 (weeks) to look like this ($2450 x12/$1200 x 52) x 100 = 47%

Any figure above 30% usually indicates that the suburb you intend to buy in may have property owners with a high incidence of mortgage stress. In terms of maintaining or growing property values in the future and trying to secure a strong property price when selling, this could have an impact, especially in an economic or local industry downturn.

albanvale Sold Property Prices

albanvale Real Estate Experts

In each suburb we have identified real estate agents who are active local experts. Our goal is to have a network of real estate agents that have been reviewed by previous clients for future buyers and sellers to rely on when making their next property move or even when they just wanting real estate advice.

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albanvale Schools

  • Albanvale Primary SchoolDover Streetalbanvale VIC 3021(03) 9367 2197State Primary School

Find out How Much your House is Worth in albanvale

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