springvale south

3172, Victoria

Real Estate & Property Information

Median
Price Rank
325

springvale south Suburb Profile & Review

Springvale South is a suburb in Melbourne's south-east with a thriving multicultural population. The renowned Springvale Shopping Precinct is Melbourne's largest Asian shopping strip. It boasts a profusion of Vietnamese, Chinese, Cambodian and Thai restaurants. Every year, Springvale Road also hosts the Lunar New Year Festival, which features dancing, food stalls, games and rides.

There are two train stations in the area on the Pakenham and Cranbourne railway lines: Springvale and Sandown Park stations. Bus routes travel to outlying places such as Airport West Shopping Centre, while those who prefer to drive will find it takes less than forty minutes to reach the city centre on the Monash Freeway.

Families with children benefit from the presence of six primary schools and two high schools Minaret College, the largest Islamic school in south-eastern Melbourne, and Killester College. Springvale is also home to the Sandown International Motor Raceway, which attracts revheads from around the country.

springvale south Demographic Data

$ 420,000 Median House Price

31 Minutes Average Commute

34 Median Age

12,184 Population

50.21 % Female

49.79 % Male

3211 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 springvale south, Victoria.

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springvale south 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.

springvale south Median House Prices

  • 2008 $ 299,975
  • 2009 $ 348,000
  • 2010 $ 371,000
  • 2011 $ 450,500
  • 2012 $ 420,000

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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springvale south 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 springvale south 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 springvale south property price predictions.

springvale south Market Property Types

  • 80 % Seperate House
  • 9 % Semi Detached
  • 10 % 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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springvale south 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.

springvale south Income & Mortgage Stats

  • $ 998 Median Weekly Household Income
  • $ 1,517 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 springvale south

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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springvale south 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.

springvale south Sold Property Prices

springvale south 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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springvale south Schools

  • Athol Road Springvale South West Campus159-167 Athol Roadspringvale south VIC 3172(03) 9547 1224ÊState Primary School
  • Keysborough Coomoora Campus15-39 Coomoora Roadspringvale south VIC 3172(03) 9798 6366State Primary School
  • Spring Parks Primary School (Valley Campus)27-39 Clarke Roadspringvale south VIC 3172(03) 9547 3222State Primary School

springvale south Childcare

  • Little Beginnings ELC574 Springvale Roadspringvale south VIC 3172
  • Mission Australia ELC554 Springvale Roadspringvale south VIC 3172

springvale south Kindergarten and Preschools

  • Darren Reserve Kindergarten3 Gillian Streetspringvale south VIC 3172
  • Little Beginnings ELC574 Springvale Roadspringvale south VIC 3172
  • Mission Australia ELC554 Springvale Roadspringvale south VIC 3172

springvale south Sporting Centres and Clubs

  • Burden Parkspringvale south VIC 3172Bowling Club
  • Burden Park Mallet Sports Clubspringvale south VIC 3172Croquet Club
  • Burden Park Tennis Clubspringvale south VIC 3172Tennis Club & Courts

Find out How Much your House is Worth in springvale south

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