This property is Off Market
With an average age of 41, households expect an average monthly mortgage payment of $1,842 or a weekly rent payment of $385. The average family earns a weekly income of $2,208 with a typical household size of 2.7 and a 95.42% employment rate.
Consistent high demand relative to supply is a key feature in Somerville driving regular price increases. Recent rapid price increases however may constrain future growth by limiting demand. Incomes in Somerville are above average indicating a preference for good quality housing and lifestyle. That ensures consistent price growth. The high percentage of professional people in Somerville classifies the area as "gentrified". This implies high demand for quality housing, generally of larger than average size. Price growth is ensured even where the state affordability index is negatively impacting other areas. High density population in Somerville requires consistent turnover in housing ensuring constant demand. Housing styles may be a mix of low, medium, and high density, providing choice for well-financed buyers and value growth over time. Lower than average industry presence in Somerville we believe will be less of a negative impact than it has in the past. Post-COVID and the growth in working from home has lessened the demand for local employment options. This may make Somerville a better buying opportunity than it may have been in the past.
(Country of Birth not stated 4%)
Somerville a good, bad, or just average location in which to invest in property? Should you be buying, or selling, property right now? Our Investability scores provide comparative insights into the investment potential for every suburb across Australia.
Investability - Housing Demand
Victoria State average 44 / 100
Income
52 / 100
52 / 100
Industry
11 / 100
17 / 100
Population
45 / 100
32 / 100
House Prices
85 / 100
70 / 100
Jobs
41 / 100
34 / 100
Incidents Trend State Average
Somerville Secondary College
Somerville, VIC, 3912 State 7-12
Tyabb Railway Station Primary School
Tyabb, VIC, 3913 State Prep-6
Flinders Christian Community College
Tyabb, VIC, 3913 Independent Prep-12
Baxter Primary School
Baxter, VIC, 3911 State Prep-6
Tyabb Primary School
Tyabb, VIC, 3913 State Prep-6
St Brendan's School
Somerville, VIC, 3912 Independent Prep-6
Somerville Primary School
Somerville, VIC, 3912 State Prep-6
Bayside Christian College
Langwarrin South, VIC, 3911 Independent Prep-12
Woodleigh School
Langwarrin South, VIC, 3911 Independent Prep-12
Somerville Rise Primary School
Somerville, VIC, 3912 State Prep-6
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134 Acme Avenue Street, Town, State
Description - Details the application. Type and other information pertaining to the development application and more...
Authority Reference: UX0909823-GOV Website
The Residz risks assessments are composed from data attributes which are generally accepted to indicate higher or lower risk presence likelihood for that condition for any address or locality. They do not however determine the exact presence of that risk for any specific property. The Residz Data provided in this publication is of a general nature and should not be construed as specific advice or relied upon in lieu of appropriate professional advice. While Residz uses commercially reasonable efforts to ensure the Residz Data is current, Residz does not warrant the accuracy, currency or completeness of the Residz Data and to the full extent permitted by law excludes liability for any loss or damage howsoever arising (including through negligence) in connection with the Residz Data. Historical prices and trends are not a guarantee of future prices and trends.
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