sherbrooke

3789, Victoria

Real Estate & Property Information

Median
Price Rank
182

sherbrooke Suburb Profile & Review

Sherbrooke is situated in the heart of the Dandenongs, between Sassafras and Kallista, just an hour east of Melbourne. The quaint township has a number of bed and breakfasts that beckon tourists throughout the year.

Most of the area is occupied by the magnificent Sherbrooke Forest, which is filled with fern gullies and an impressive wildlife population. The forest is well-known for its lyrebirds, whose distinct song is associated with the Dandenong Ranges. Sherbrooke Forest is also home to the tallest flowering plant in the world the Mountain Ash which can grow to heights of over 100m. In town, at the Alfred Nicholas Memorial Gardens, residents and visitors alike enjoy walking the garden beneath these famous Mountain Ash trees.

Two bus routes serve the area, route 688, which runs from Croydon to Upper Ferntree Gully, and route 694, which travels from Belgrave Station to Olinda. Sherbrooke children attend the Sherbrooke Community School in Sassafras, which teaches Prep to Year 12, and primary schools in Kallista and Olinda.

sherbrooke Demographic Data

$ 585,000 Median House Price

50 Minutes Average Commute

48 Median Age

268 Population

48.88 % Female

51.12 % Male

80 NO OF FAMILIES

1.6 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 sherbrooke, Victoria.

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sherbrooke 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.

sherbrooke Median House Prices

  • 2008 $ 558,000
  • 2009 $ 485,000
  • 2010 $ 477,000
  • 2011 $ 660,000
  • 2012 $ 585,000

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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sherbrooke 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 sherbrooke 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 sherbrooke property price predictions.

sherbrooke Market Property Types

  • 94 % Seperate House
  • 3 % 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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sherbrooke 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.

sherbrooke Income & Mortgage Stats

  • $ 1,432 Median Weekly Household Income
  • $ 2,167 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 sherbrooke

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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sherbrooke 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.

sherbrooke Sold Property Prices

sherbrooke 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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sherbrooke Restaurants

  • Woods Sherbrooke21 Sherbrooke Roadsherbrooke VIC 378903 9755 2131
  • Grants on Sherbrooke70 Monbulk Road sherbrooke VIC 378903 9755 2888

sherbrooke Schools

  • University of the Third Age Upwey Senior Citizens Hallsherbrooke VIC 3789(03) 9754 3339University

Find out How Much your House is Worth in sherbrooke

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