Mooroolbark, which received its name from the local Wurundjeri Aboriginal population, is a large residential area near Lilydale and Croydon. It is only forty minutes away from the Melbourne CBD, and as a result many locals choose to commute from Mooroolbark Station on the Lilydale train line. The station's parking facilities are quite expansive, accommodating residents from surrounding suburbs as well. The main shopping district, which features two supermarkets and a number of food and retail outlets, can be found on Brice Avenue and Manchester Road. Highly ranked private school Billanook College is just one of eleven schools in the region.
The suburb held the first Blue Light Disco back in 1976. This was an initiative that created a safe space for under-age people to socialise, and it developed into a nationwide program. Most likely stemming from this, the area has strict alcohol-free policies in its streets.
The Mooroolbark Community Centre is known for its beautiful mosaics, and for a street art representation of Edna Walling, the township's most famous and beloved citizen who was a 20th century landscape designer. The centre aims to bring residents together with different kinds of cultural activities, such as performance art, workshops and visual art exhibitions. 'Celebrate Mooroolbark' is a festival held every year in March which includes a street parade, stalls and rides.
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Check your Contracts Before Making an Offer
If you are serious about purchasing or selling a property with the least hassle then you should engage the services of a reputable conveyancer or lawyer who specialises in property. Have your contracts looked over before buying your next dwelling, for any possible concerns like easements, titles and any caveats, body corporate rules, zoning and planning potential issues.
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A depreciation schedule of your investment prepared by a Quantity Surveyor for the purpose of claiming against your taxable income. There are two main elements taken into account when preparing this report.
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$ 431,000 Median House Price
39 Minutes Average Commute
35 Median Age
20,689 Population
50.36 % Female
49.64 % Male
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 mooroolbark, Victoria.
Learn more about dataThe 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.
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.
Learn more about dataHere 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 mooroolbark 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 mooroolbark property price predictions.
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.
Learn more about dataTypically, 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.
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 mooroolbark
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.
Learn more about dataTo 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.
48 MCDERMOTT AVENUE
94 BRICE AVE
7 HIGHLEIGH COURT
53A LANCASTER ROAD
70 BELLARA DRIVE
51 PEMBROKE ROAD
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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