balaclava

3183, Victoria

Real Estate & Property Information

Median
Price Rank
77

balaclava Suburb Profile & Review

Balaclava is home to increasingly trendy Carlisle Street, where a number of popular eateries have opened up, including the ever-popular Las Chicas, which serves some of the best breakfasts in Melbourne. Chapel Street is located to the north-west of the suburb, where some of the city's best shopping, cafes and bars can be found.

Balaclava is home to a large portion of Melbourne's Orthodox Jewish community. As a result there are a number of kosher restaurants and synagogues in the area. While no schools are located within the suburb itself, the Caulfield Campus of Caulfield Grammar School is in neighbouring St Kilda East. Yeshivah College is also just across Hotham Street and provides senior students with a mix of general and Jewish studies.

Balaclava Station is situated in the centre of the suburb and is on the Sandringham line. Trains take a mere 13 minutes to reach Flinders Street. Ripponlea Station is just outside of Balaclava, but it serves the southern parts of the suburb. Tram route 3 and tram route 16 travel along Carlisle Street, while tram route 78 and tram route 79 travel along Chapel Street to the west of the suburb.

balaclava Demographic Data

$ 785,000 Median House Price

17 Minutes Average Commute

32 Median Age

5,383 Population

49.23 % Female

50.77 % Male

1207 NO OF FAMILIES

1.7 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 balaclava, Victoria.

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balaclava 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.

balaclava Median House Prices

  • 2008 $ 697,500
  • 2009 $ 782,500
  • 2010 $ 751,500
  • 2011 $ 765,000
  • 2012 $ 785,000

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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balaclava 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 balaclava 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 balaclava property price predictions.

balaclava Market Property Types

  • 24 % Seperate House
  • 16 % Semi Detached
  • 60 % Flat or Unit
  • 1 % 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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balaclava 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.

balaclava Income & Mortgage Stats

  • $ 1,428 Median Weekly Household Income
  • $ 2,100 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 balaclava

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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balaclava 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.

balaclava Sold Property Prices

balaclava 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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balaclava Restaurants

  • Treehouse Lounge265 Carlisle St balaclava VIC 318303 9527 8940
  • Tom Yum Thai Balaclava1/114A Westbury Close balaclava VIC 318303 9528 7454
  • Pause268 Carlisle St balaclava VIC 318303 9537 0511

balaclava Cafes

  • Wall Two 80280 Carlisle Streetbalaclava VIC 318303 9593 8280
  • Monk Bodhi Dharma202 Carlisle Streetbalaclava VIC 318303 9534 7250
  • Milk Toast115 Carlisle Streetbalaclava VIC 318303 9531 3527

balaclava Childcare

  • St. Kilda East CCC2 Balston Streetbalaclava VIC 3183
  • The Avenue Childrens Centre39 The Avenuebalaclava VIC 3183

balaclava Kindergarten and Preschools

  • St Kilda & Balaclava Kindergarten23 Nelson Streetbalaclava VIC 3183

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