pakenham

3810, Victoria

Real Estate & Property Information

Median
Price Rank
455

pakenham Suburb Profile & Review

Once an area known for its dairy farms, vineyards and orchards, Pakenham is still often viewed as a regional suburb. Located on the edge of West Gippsland, Pakenham's new estates are proving popular with young families eager to leave the rat race behind.

A fifty minute drive along the Monash Freeway will bring you into Melbourne's city centre. As the terminus for the Pakenham line, Pakenham Station provides limited express services to the City Loop during peak times. The number of shopping centres in the area greatly reduces the need to shop out of Pakenham. In the town centre you will find an Aldi and a Safeway, while the Heritage Springs Shopping Centre and Lakeside Shopping Centre boast cafes, butchers, bakeries and fashion boutiques. The Pakenham Central Marketplace is a newly completed major shopping centre featuring a Woolworths, Big W and Dick Smith.

The Cardinia Cultural Centre on Lakeside Boulevard is an attraction for theatre performances and comedy festivals, while Cardinia LiFE, a sports and aquatic centre, is a facility for team sports, group fitness and social activities. There are many private and public schools in Pakenham, including Beaconhills College Valley Campus and Pakenham Secondary College.

pakenham Demographic Data

$ 340,000 Median House Price

48 Minutes Average Commute

30 Median Age

33,999 Population

51.47 % Female

48.53 % Male

9256 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 pakenham, Victoria.

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pakenham 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.

pakenham Median House Prices

  • 2008 $ 260,000
  • 2009 $ 275,000
  • 2010 $ 300,500
  • 2011 $ 334,400
  • 2012 $ 340,000

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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pakenham 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 pakenham 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 pakenham property price predictions.

pakenham Market Property Types

  • 88 % Seperate House
  • 6 % Semi Detached
  • 5 % Flat or Unit
  • 1 % 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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pakenham 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.

pakenham Income & Mortgage Stats

  • $ 1,229 Median Weekly Household Income
  • $ 1,777 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 pakenham

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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pakenham 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.

pakenham Sold Property Prices

pakenham 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.

pakenham Related Local Blog Posts

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?

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?

pakenham Restaurants

  • The Cardinia Club71 Racecourse Roadpakenham VIC 381003 5941 4855
  • Taco Bill53 Princes Highwaypakenham VIC 381003 5940 2727
  • Shavan's @ Pakenham12 Lakeside Boulevardpakenham VIC 381003 5941 8966

pakenham Cafes

  • Kemmaleen19/55 Main Streetpakenham VIC 381003 5941 9933
  • Coffee Cat CafeUnit 7/1 Bate Closepakenham VIC 381003 5941 2661
  • Choco Bean CafeShop 5/Lakeside Boulevardpakenham VIC 381003 5941 7747

pakenham Schools

  • St. Patricks Primary School136 Princes Highwaypakenham VIC 3810(03) 5940 2888Catholic Primary School
  • Outlook Day Centre24 Toomuc Valley Roadpakenham VIC 3810(03) 5941 1535Specialist School
  • Beaconhills College Valley Campus30-34 Toomuc Valley Roadpakenham VIC 38101300 002 225Private School

pakenham Childcare

  • ABC Learning CentrePortobello Rdpakenham VIC 3810
  • Lakeside Childrens CentreOlympic Waypakenham VIC 3810
  • Little Dragon Fly ELC5-7 Main Streetpakenham VIC 3810

pakenham Kindergarten and Preschools

  • Andrews Community Kinder210 Henty Waypakenham VIC 3810
  • Homegarth Community KinderDunbarton Drivepakenham VIC 3810
  • Little Beacons ELC84 Toomuc Valley Rdpakenham VIC 3810

pakenham Sporting Centres and Clubs

  • Little Athletics Centres, Toomuc Recreation Respakenham VIC 3810Athletics Club
  • Pakenhampakenham VIC 3810Netball Club
  • Pakenham Football Clubpakenham VIC 3810Football Club

pakenham Retirement Villages

  • Cardinia Waterspakenham VIC 3810
  • Evergreenpakenham VIC 3810
  • Goldcarepakenham VIC 3810

Find out How Much your House is Worth in pakenham

Request a free market Basic Report for pakenham 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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