patterson lakes

3197, Victoria

Real Estate & Property Information

Median
Price Rank
155

patterson lakes Suburb Profile & Review

Best known as the site where Kath & Kim was set and filmed, Patterson Lakes also boasts a series of canals and lakes unlike any other suburb in Melbourne. Many compare its design and atmosphere to that of Queensland. Several houses have built boats and jetties in their backyards to utilise their direct access to the water. The area is popular with retirees and as a result is home to a number of retirement villages.

There is a shopping area near the intersection of Thompson Road and Gladesville Boulevard, where residents can enjoy a meal at one of the many restaurants. Further down Thompson Road is The Cove Hotel, which looks out over the marina. Patterson Lakes Primary School is near the main commercial area at the corner of Gladesville Boulevard and McLeod Road. Patterson River Secondary College is just outside the suburb's confines in neighbouring Carrum.

It is a forty-five minute drive to the city along the EastLink and Monash freeways. Carrum Station is only a few minutes away and trains take less than an hour to reach Flinders Street. There are a number of bus routes servicing the area as well.

patterson lakes Demographic Data

$ 615,000 Median House Price

38 Minutes Average Commute

41 Median Age

7,582 Population

50.84 % Female

49.16 % Male

2133 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 patterson lakes, Victoria.

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patterson lakes 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.

patterson lakes Median House Prices

  • 2008 $ 480,000
  • 2009 $ 500,000
  • 2010 $ 517,500
  • 2011 $ 605,000
  • 2012 $ 615,000

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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patterson lakes 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 patterson lakes 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 patterson lakes property price predictions.

patterson lakes Market Property Types

  • 63 % Seperate House
  • 23 % Semi Detached
  • 14 % 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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patterson lakes 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.

patterson lakes Income & Mortgage Stats

  • $ 1,420 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 patterson lakes

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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patterson lakes 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.

patterson lakes Sold Property Prices

patterson lakes 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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Where is The Property Market Heading?

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patterson lakes Restaurants

  • Stirfry'DShop 29b, 102-114 Gladesville Bvdpatterson lakes VIC 319703 9773 9728
  • Shavan's Tandoori IndianShop 15, Harbour Plaza, 37 Thompson Rd patterson lakes VIC 319703 9773 0639
  • River Thai Cafe Restaurant100 Gladesville Blvd patterson lakes VIC 319703 9773 4288

patterson lakes Cafes

  • Rusty PelicanShop 10, Harbour Plaza, 11 Thompson Roadpatterson lakes VIC 319703 9772 0544
  • Kelly's KitchenShop 10, Thompson Rd & Gladesville Boulevard Cornerpatterson lakes VIC 319703 9772 8797

patterson lakes Schools

  • Patterson Lakes Primary School130 Gladesville Boulevardpatterson lakes VIC 3197(03) 9772 4011State Primary School

patterson lakes Childcare

  • Daisy Chain Child Care Centre2-4 Old Wells Roadpatterson lakes VIC 3197

patterson lakes Kindergarten and Preschools

  • Patterson Lakes Kindergarten25 Terrigal Drivepatterson lakes VIC 3197

patterson lakes Sporting Centres and Clubs

  • Keysborough Angling Clubpatterson lakes VIC 3197
  • Dingley Pony Clubpatterson lakes VIC 3197Horse Riding Club
  • Lake Leganapatterson lakes VIC 3197Tennis Club & Courts

patterson lakes Retirement Villages

  • Berkeley Livingpatterson lakes VIC 3197
  • Illawong Residential Clubpatterson lakes VIC 3197
  • Patterson Lakes Aged Carepatterson lakes VIC 3197

patterson lakes Vets

  • Patterson Lakes Vet Clinicpatterson lakes VIC 3197

Find out How Much your House is Worth in patterson lakes

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