glen iris

3146, Victoria

Real Estate & Property Information

Median
Price Rank
26

glen iris Suburb Profile & Review

Glen Iris can be found in Melbourne's south-east, twenty minutes outside the CBD. Due to the superior educational facilities available in the area, it is a very family-focused suburb. Sacr

glen iris Demographic Data

$ 1,188,000 Median House Price

14 Minutes Average Commute

37 Median Age

24,948 Population

51.98 % Female

48.02 % Male

6477 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 glen iris, Victoria.

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glen iris 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.

glen iris Median House Prices

  • 2008 $ 967,000
  • 2009 $ 1,000,000
  • 2010 $ 1,007,000
  • 2011 $ 1,320,000
  • 2012 $ 1,188,000

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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glen iris 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 glen iris 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 glen iris property price predictions.

glen iris Market Property Types

  • 60 % Seperate House
  • 13 % Semi Detached
  • 27 % 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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glen iris 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.

glen iris Income & Mortgage Stats

  • $ 1,965 Median Weekly Household Income
  • $ 2,383 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 glen iris

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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glen iris 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.

glen iris Sold Property Prices

glen iris 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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glen iris Restaurants

  • The Iris Buffet1563 High Stglen iris VIC 314603 9886 0688
  • That Greek Tavern1438 Malvern Rd glen iris VIC 314603 9822 3233
  • Preservc Kitchen32 High St glen iris VIC 314603 9885 4869

glen iris Cafes

  • Cafe Buddha and Galerie17 High Streetglen iris VIC 314603 9885 2279
  • Livingroom Restaurant and Cafe12/18 Claremont Avenueglen iris VIC 314603 9576 0356
  • Our Kitchen Table134 Burke Roadglen iris VIC 314603 9886 0458

glen iris Schools

  • Sacre Coeur Primary School172 Burke Roadglen iris VIC 3146(03) 9835 2700Catholic Primary School
  • St. Cecilias Primary School4 Van Ness Avenueglen iris VIC 3146(03) 9809 2142Catholic Primary School
  • St. Rochs Primary SchoolGlenvale Roadglen iris VIC 3146(03) 9885 7704Catholic Primary School

glen iris Childcare

  • Caulfield Grammar Early Childhood Centre 5 Willoby Aveglen iris VIC 3146
  • Bloom ELC47-49 Glen Iris Rdglen iris VIC 3146
  • Korowa AGS Early Learning CtrRanfurlie Crescentglen iris VIC 3146

glen iris Kindergarten and Preschools

  • Bloom ELC47-49 Glen Iris Rdglen iris VIC 3146
  • Burwood Preschool48A Alfred Roadglen iris VIC 3146
  • Gardiner Preschool Inc253A Burke Roadglen iris VIC 3146

glen iris Sporting Centres and Clubs

  • Burwood Districtglen iris VIC 3146Bowling Club
  • Burwood Tennis Clubglen iris VIC 3146Tennis Club & Courts
  • Dawson Reserveglen iris VIC 3146Tennis Club & Courts

glen iris Retirement Villages

  • Gardiner Retirement Lodgeglen iris VIC 3146
  • MECWAglen iris VIC 3146

Find out How Much your House is Worth in glen iris

Request a free market Basic Report for glen iris to get a general idea of property prices in your area, or a more specific CMA Report for the property you own.

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