mooroolbark

3138, Victoria

Real Estate & Property Information

Median
Price Rank
309

mooroolbark Suburb Profile & Review

Mooroolbark, which received its name from the local Wurundjeri Aboriginal population, is a large residential area near Lilydale and Croydon. It is only forty minutes away from the Melbourne CBD, and as a result many locals choose to commute from Mooroolbark Station on the Lilydale train line. The station's parking facilities are quite expansive, accommodating residents from surrounding suburbs as well. The main shopping district, which features two supermarkets and a number of food and retail outlets, can be found on Brice Avenue and Manchester Road. Highly ranked private school Billanook College is just one of eleven schools in the region.

The suburb held the first Blue Light Disco back in 1976. This was an initiative that created a safe space for under-age people to socialise, and it developed into a nationwide program. Most likely stemming from this, the area has strict alcohol-free policies in its streets.

The Mooroolbark Community Centre is known for its beautiful mosaics, and for a street art representation of Edna Walling, the township's most famous and beloved citizen who was a 20th century landscape designer. The centre aims to bring residents together with different kinds of cultural activities, such as performance art, workshops and visual art exhibitions. 'Celebrate Mooroolbark' is a festival held every year in March which includes a street parade, stalls and rides.

mooroolbark Demographic Data

$ 431,000 Median House Price

39 Minutes Average Commute

35 Median Age

20,689 Population

50.36 % Female

49.64 % Male

5762 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 mooroolbark, Victoria.

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mooroolbark 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.

mooroolbark Median House Prices

  • 2008 $ 322,000
  • 2009 $ 348,000
  • 2010 $ 366,000
  • 2011 $ 438,000
  • 2012 $ 431,000

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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mooroolbark 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 mooroolbark 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 mooroolbark property price predictions.

mooroolbark Market Property Types

  • 96 % Seperate House
  • 1 % Semi Detached
  • 3 % 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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mooroolbark 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.

mooroolbark Income & Mortgage Stats

  • $ 1,361 Median Weekly Household Income
  • $ 1,746 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 mooroolbark

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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mooroolbark 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.

mooroolbark Sold Property Prices

mooroolbark 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.

mooroolbark Related Local Blog Posts

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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?

mooroolbark Restaurants

  • Wot a Kebab3/191 Hull Rd mooroolbark VIC 313803 9725 5135
  • Tulky's Cafe & Bar48 Manchester Rd mooroolbark VIC 313803 9727 4266
  • Tandoori Plaza38-42 Manchester Road mooroolbark VIC 313803 9726 4313

mooroolbark Cafes

  • Phil's Bakehouse and Cafe63 Brice Avenuemooroolbark VIC 313803 9726 5011
  • Sweet Welcome36 Brice Avenuemooroolbark VIC 313803 9727 1740
  • Moo Wine Cafe9/91 Brice Avenuemooroolbark VIC 313803 9726 4711

mooroolbark Schools

  • St. Peter Julian Eymard Primary School32 Reay Roadmooroolbark VIC 3138(03) 9725 0595Catholic Primary School
  • Billanook College197 Cardigan Roadmooroolbark VIC 3138(03) 9725 5388Private School
  • Yarralinda School4 Birchwood Drivemooroolbark VIC 3138(03) 9727 3032Private School

mooroolbark Childcare

  • Busy Kids Child Care Centre7 Croydondale Drmooroolbark VIC 3138
  • ABC Learning Centre11 Cambridge Rdmooroolbark VIC 3138
  • Mooroolbark Early Childhood Education Centre 8 Charles Stmooroolbark VIC 3138

mooroolbark Kindergarten and Preschools

  • ABC Learning Centre11 Cambridge Rdmooroolbark VIC 3138
  • Bimbadeen Preschool25 Bimbadeen Drmooroolbark VIC 3138
  • Gray Court PreschoolGray Courtmooroolbark VIC 3138

mooroolbark Sporting Centres and Clubs

  • Mooroolbarkmooroolbark VIC 3138Bowling Club
  • Billanook Collegemooroolbark VIC 3138Tennis Club & Courts
  • Kiloran Park, Mooroolbark Tennis Clubmooroolbark VIC 3138Tennis Club & Courts

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