Olinda is renowned for its bed and breakfasts, antique stores, quaint cafes and restaurants. It is a fantastic place to enjoy the famous Devonshire tea experience associated with the Dandenongs; though if fine-dining is preferred, you can pop down to the Wild Oak cafe for some culinary delights.
There is one school in the suburb, Olinda Primary School, which features an attractive campus and intimate class sizes. Famous gardens like the National Rhododendron Garden, the RJ Hamer Arboretum, William Ricketts Sanctuary and Cloudehille draw visitors from around the world. Hand-made arts and crafts galleries such as the Touchstone Craft Gallery are dotted throughout the village, while the Olinda Golf Course, an incredibly scenic 18-hole course, appeals to sports lovers looking for a relaxed refuge. Players take heart from the fact that Greg Norman used to own property in the area.
Less than an hour's drive from the CBD, Olinda has a sought-after small town sensibility, but it is not too far from the excitement of the city either.
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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.
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$ 520,000 Median House Price
52 Minutes Average Commute
42 Median Age
1,664 Population
50.30 % Female
49.70 % Male
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 olinda, Victoria.
Learn more about dataThe 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.
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.
Learn more about dataHere 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 olinda 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 olinda property price predictions.
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.
Learn more about dataTypically, 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.
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 olinda
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.
Learn more about dataTo 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.
2 HACKETTS ROAD
4 SUNSET AVENUE
640 BASIN-OLINDA ROAD
103-105 OLINDA-MONBULK ROAD
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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