pascoe vale

3044, Victoria

Real Estate & Property Information

Median
Price Rank
214

pascoe vale Suburb Profile & Review

Pascoe Vale is located in Melbourne's west, on the eastern bank of the Moonee Ponds Creek. Residents are ideally situated fifteen minutes from the Tullamarine Airport and twenty minutes from the city centre.

Fitness junkies, families and dog-lovers are particularly fond of the area due to its abundance of lovely parks and gardens, such as Cole Reserve, Austin Reserve, Kelvin Thomson Reserve and Gavin Park. Pet lovers in strife can visit Dr Harry Cooper's famous vet clinic on the corner of Kent Road and Derby Street, a building which has brought notoriety to the suburb. There are cafes and restaurants, banks and a supermarket on Bell Street and Melville Road in Pascoe Vale South. DFO Essendon and Westfield Airport West are also found ten minutes along the Tullamarine Freeway.

Public transport is available at Pascoe Vale Station, where there are regular train services on the Craigieburn line. Tram route 55 from West Coburg also travels through the suburb on its way into the city. Pascoe Vale has six schools, including Pascoe Vale Girls College and Pascoe Vale Primary School. The Pascoe Vale Outdoor Pool, which is open during the summer months, is another boon for local residents with children.

pascoe vale Demographic Data

$ 539,000 Median House Price

16 Minutes Average Commute

37 Median Age

14,885 Population

51.67 % Female

48.33 % Male

3901 NO OF FAMILIES

1.8 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 pascoe vale, Victoria.

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pascoe vale 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.

pascoe vale Median House Prices

  • 2008 $ 421,000
  • 2009 $ 452,550
  • 2010 $ 500,500
  • 2011 $ 597,500
  • 2012 $ 539,000

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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pascoe vale 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 pascoe vale 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 pascoe vale property price predictions.

pascoe vale Market Property Types

  • 61 % Seperate House
  • 24 % Semi Detached
  • 15 % 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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pascoe vale 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.

pascoe vale Income & Mortgage Stats

  • $ 1,198 Median Weekly Household Income
  • $ 1,950 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 pascoe vale

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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pascoe vale 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.

pascoe vale Sold Property Prices

pascoe vale 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.

pascoe vale 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?

pascoe vale Restaurants

  • Sussex Seafood267 Gaffney St pascoe vale VIC 304403 9350 6218
  • Venita on Cumberland159 Cumberland Roadpascoe vale VIC 304403 9304 1358
  • Pascoe Vale Taverner12 Railway Parade pascoe vale VIC 304403 9375 9800

pascoe vale Cafes

  • Ferrovia Deli and Fine Foods8 Railway Paradepascoe vale VIC 304403 9379 7377
  • Venita on Cumberland159 Cumberland Roadpascoe vale VIC 304403 9304 1358
  • Jack and Daisy152b Cumberland Rdpascoe vale VIC 304403 9350 4106

pascoe vale Schools

  • St. Oliver Plunketts Primary SchoolLandells Roadpascoe vale VIC 3044(03) 9354 5411Catholic Primary School
  • Scope Northern Districts Training Centre2 Prospect Streetpascoe vale VIC 3044(03) 9354 8244Specialist School
  • Pascoe Vale Primary SchoolGaffney Streetpascoe vale VIC 3044(03) 9354 1611State Primary School

pascoe vale Childcare

  • ABC Learning Centre134 Cumberland Rdpascoe vale VIC 3044
  • Derby Street Childrens Centre122 Derby Streetpascoe vale VIC 3044

pascoe vale Kindergarten and Preschools

  • Kent Rd Uniting PreschoolKent Rdpascoe vale VIC 3044

pascoe vale Sporting Centres and Clubs

  • St. Olivers Tennis Clubpascoe vale VIC 3044Tennis Club & Courts

pascoe vale Retirement Villages

  • Pascoe Vale Gardenspascoe vale VIC 3044

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