Immigrants Are Pushing House Prices Higher
Much of Australia’s history and success has been built on the back immigration but are the current intake levels too high and how are they impacting prices?
lower plenty
3093, Victoria
Real Estate & Property Information
Median
Price Rank 171
Price Rank 171
lower plenty Suburb Profile & Review
Bordered by the iconic Plenty and Yarra rivers, this historic area is dominated by large homesteads and winding country roads. Lower Plenty is renowned for its nature trails, such as the Main Yarra Trail and the Plenty River Trail, which reveal the sheer beauty of the area but also connect cyclists to the Docklands, Greensborough, Montmorency, Templestowe and Doncaster.
Residents of Lower Plenty enjoy a slice of country life only thirty minutes from the inner city. Ample space allows for a secluded 18-hole golf course at Heidelberg Golf Club, while enthusiasts can also venture to the nearby Rosanna Golf Club on Cleveland Avenue. A small range of bustling cafes and restaurants line Main Road, such as Margherita Pizza and Pasta and La Cascatas Steakhouse.
Lower Plenty Primary School boasts intimate class sizes and outstanding test scores, while reputable high schools can be found a short distance away in Montmorency and Greensborough. La Trobe University and RMIT University campuses are both a fifteen minute drive away in Bundoora.
Invest/Buy/Sell Checklist
Research
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- Property/Suburb Report
- Buyer/Vendor Advocacy
- Finance Strategy & Lending
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Property/Suburb Report Enquiry
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Buyer/Vendor Advocacy Enquiry
Receive Independent Advice about Buying or Selling Our qualified buyer and vendor advocates can help you build your property portfolio with quality capital growth properties or conversely help you sell your property. Their thorough processes are designed to suit your specific needs, and their independent advice can take the stress out of the buying and selling process.
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Finance Strategy & Lending Enquiry
Hone Your Financial Knowledge by Speaking to a Finance Broker
Obtain personalised service you can’t find at a bank. Educate yourself about the financial issues involved with buying and selling a property by speaking to a qualified finance broker. They will advise you regarding the best finance options available to you. They can also discuss methods to create wealth and improve your cash-flow.
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Due Diligence
- Ownership Structure
- Property Valuation
- Rental Appraisal
- Sale Contract Review
- Building & Pest Inspection
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Ownership Structure Enquiry
Are you financially structured the right way to invest in property?
Talk to a professional who is able to sit down with you and assess your goals and structure your finances in a way that will help you invest in property for the long-term.
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Property Valuation Enquiry
Have you bought your first investment property and don’t know where to start when it comes to management or just looking for a change? Find a property manager that specialises in customer service, communication, minimal rental arrears, routine inspections and quality tenants.
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Rental Appraisal Enquiry
Have you bought your first investment property and don’t know where to start when it comes to management - or are you just looking for a change? Find a property manager that specialises in customer service, communication, minimal rental arrears, routine inspections and quality tenants.
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Sale Contract Review Enquiry
Check your Contracts Before Making an Offer
If you are serious about purchasing or selling a property with the least hassle then you should engage the services of a reputable conveyancer or lawyer who specialises in property. Have your contracts looked over before buying your next dwelling, for any possible concerns like easements, titles and any caveats, body corporate rules, zoning and planning potential issues.
What is Conveyancing?
Conveyancing is the term used to describe the way that a title, rights or interest in land is legally transferred from one person to another.
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Building & Pest Inspection Enquiry
Understand the Condition of Your Property Before You Buy
Avoid any nasty surprises before purchasing your property. Request a building and pest inspection report. This report will tell you everything you need to know about the condition of the property, including interior and exterior defects, termite activity and the presence of environmental dangers such as asbestos.
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Post Purchase
- Landlords Insurance
- Depreciation Schedule
- 1. Capital works allowance (Division 43) Takes into account the construction costs of the building itself, such as concrete and brickwork
- 2. Plant and equipment (Division 40) A deduction available for removable assets identified by the ATO that depreciate at a faster rate than the building eg carpet, dishwasher, blinds, ovens.
- Removalist
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Buying an investment property for the first time? Concerned about tenants damaging your property, rental loss or losing your job and being unable to pay your mortgage?
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Depreciation Schedule Enquiry
What is a Depreciation Schedule?
A depreciation schedule of your investment prepared by a Quantity Surveyor for the purpose of claiming against your taxable income. There are two main elements taken into account when preparing this report.
Tax Depreciation Calculator
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Removalist Enquiry
Find the Best Removalist for the Job
Take the stress out of relocating by getting in touch with an efficient and qualified removalist team. Professional removalists can help you with packing, loading and unloading during your local or interstate move.
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Adding value
- Planning & Permits
- Trades
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Planning & Permits Enquiry
Find Out Whether Your Property Has Development Potential
Would you like to find out whether your property is subdividable and if you can increase the value of your property by obtaining plans and permits? Or you are looking to extend or renovate your new purchase and need plans and permits?
Our property development experts review whether your property is suitable for development. They carry out the due diligence on the development potential of your property, look at the options available to you (fully costed and assessed), discuss a development strategy, prepare plans to submit to a town planner and local council, and work through applications to achieve town planning approval.
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Trades Enquiry
Find a Qualified Local Tradesperson
Finding a qualified and reputable local tradesperson can be a hassle, whether you’re looking for an electrician, carpenter, plumber, builder, handyman, gardener or carpet cleaner. Be connected with the right tradesperson today.
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lower plenty Demographic Data
$ 600,000 Median House Price
29 Minutes Average Commute
42 Median Age
3,782 Population
51.72 % Female
48.28 % Male
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 lower plenty, Victoria.
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lower plenty 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.
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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lower plenty 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 lower plenty 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 lower plenty property price predictions.
lower plenty Market Property Types
- 72 % Seperate House
- 22 % Semi Detached
- 6 % 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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lower plenty 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.
lower plenty Income & Mortgage Stats
- $ 1,588 Median Weekly Household Income
- $ 2,000 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 lower plenty
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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lower plenty 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.
lower plenty Sold Property Prices
14 VIEW ROAD
4/27 Para Road
368 Main Road
200 MAIN ROAD
35 Panorama Avenue
3/191 Main Road
lower plenty 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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- Daniel Leibowitz
- Darren Jones
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- Marilyn McGibbon
- Morrison Kleeman Estate Agents
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- Romeo Rigoni
- Barry Plant
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- Scott Nugent
- Buckingham and Company
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lower plenty Related Local Blog Posts
Hangover Stock Brings About Buying Opportunities
This week Melbourne’s auction market has been tested with over 1200 properties reportedly going under the hammer over the weekend. Although both Domain and the REIV show clearance rates at nearly 70%, this on the surface seems good but in actual fact is 10% down for the same time last year. Speaking to a number of agents around town confirms….
Where is The Property Market Heading?
There has been a lot of “white noise” surrounding the Sydney and Melbourne property market over the last few months and it has taken me a while to determine which way things were actually going to go. Is the Australian property market heading down the gurgler or is this just a glitch?
Property Market Trends in Melbourne Which Could Affect Prices
In this final edition we look at what how the Melbourne property market has fared and what whether we are likely to see any changes in property prices, demand for property and economic drivers.
New Research Shows Consumers Who Don’t Own A Home Could Be Worse Off in Retirement
New Research released last week by Roy Morgan shows that people who don’t own a home have become worse off in terms of their net wealth and are jeopardising their retirement.
Is Australian Housing Heading for a Hard Landing or a Financial Cliff?
From my experience and talking with real estate agents the Melbourne market has softened no doubt, but are we heading towards a financial cliff?
lower plenty Restaurants
- Suwan Thai Restaurant82 Main Rdlower plenty VIC 309303 9432 0295
- Margherita89 Main Rdlower plenty VIC 309303 9434 4980
- Lower Plenty Hotel - Bistro4 Main Roadlower plenty VIC 309303 9435 1722
lower plenty Cafes
- Lunch & Latte93 Main Roadlower plenty VIC 309303 9435 1215
lower plenty Schools
- Lower Plenty Primary SchoolMain Roadlower plenty VIC 3093(03) 9435 2585State Primary School
lower plenty Childcare
- Mission Australia ELC42 Main Roadlower plenty VIC 3093
lower plenty Kindergarten and Preschools
- Lower Plenty KindergartenGlenauburn Rdlower plenty VIC 3093
- Mission Australia ELC42 Main Roadlower plenty VIC 3093
lower plenty Sporting Centres and Clubs
- Doncaster, Glenauburn Parklower plenty VIC 3093Baseball Club
- Heidelberg Golf Clublower plenty VIC 3093Bowling Club
- Heidelberglower plenty VIC 3093Golf Course
lower plenty Retirement Villages
- Banksia Placelower plenty VIC 3093
- Chatsworth Terracelower plenty VIC 3093
Find out How Much your House is Worth in lower plenty
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