devon meadows

3977, Victoria

Real Estate & Property Information

Median
Price Rank
395

devon meadows Suburb Profile & Review

Devon Meadows is located in the City of Casey, in Melbourne's south-east. Residents wishing to travel into the city can do so from Cranbourne Station, where trains take an hour to reach Flinders Street Station. Alternatively, the township is bordered by the South Gippsland Freeway, which meets both the Monash and EastLink.

Bus routes 795 and 796 service the area during the week on their way to Cranbourne and the coastal town of Warneet. The Five Ways General Store is the most convenient spot for groceries, though retail stores in Cranbourne are only ten minutes away.

Glover Recreation Reserve has a sports field for local cricket and football clubs. Fishing enthusiasts can drive to Warneet to take advantage of its well-known pier & the township is only fifteen minutes to the south, on Western Port Bay. Families send their children to Devon Meadows Primary School, which caters to other surrounding rural townships. Cranbourne schools such as Cranbourne Secondary College and Cranbourne Primary School are also available.

devon meadows Demographic Data

$ 375,000 Median House Price

50 Minutes Average Commute

41 Median Age

1,606 Population

48.94 % Female

51.06 % Male

455 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 devon meadows, Victoria.

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devon meadows 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.

devon meadows Median House Prices

  • 2008 $ 280,000
  • 2009 $ 305,000
  • 2010 $ 332,000
  • 2011 $ 375,000
  • 2012 $ 375,000

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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devon meadows 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 devon meadows 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 devon meadows property price predictions.

devon meadows Market Property Types

  • 100 % Seperate House
  • 0 % Semi Detached
  • 0 % 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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devon meadows 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.

devon meadows Income & Mortgage Stats

  • $ 1,336 Median Weekly Household Income
  • $ 1,950 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 devon meadows

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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devon meadows 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.

devon meadows Sold Property Prices

devon meadows 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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