This property is Off Market
With an average age of 36, households expect an average monthly mortgage payment of $1,836 or a weekly rent payment of $361. The average family earns a weekly income of $1,861 with a typical household size of 2.7 and a 91.58% employment rate.
Consistent high demand relative to supply is a key feature in Narre Warren driving regular price increases. Recent rapid price increases however may constrain future growth by limiting demand. In this area of average incomes, there is a mix of housing size and quality. While this may present buying opportunities, growth may be constrained. As buyers begin to examine Narre Warren due to other areas being out of the price range and the trend to working from home, "gentrification" may incease price growth. A mix of professions and above average income earners in Narre Warren provides good demand. The lower than average housing turnover of these people also means fewer regular listings leading to periodic large price increases. Lower than average population density constrains growth in Narre Warren to an extent. However, where buyers are willing to compromise on housing and lifestyle choice, there are affordable options. Lower than average industry presence in Narre Warren 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 Narre Warren a better buying opportunity than it may have been in the past.
(Country of Birth not stated 2%)
Narre Warren - South West 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
43 / 100
52 / 100
Industry
11 / 100
17 / 100
Population
23 / 100
32 / 100
House Prices
85 / 100
70 / 100
Jobs
30 / 100
34 / 100
Incidents Trend State Average
Nossal High School
Berwick, VIC, 3806 State 9-12
Don Bosco School
Narre Warren, VIC, 3805 Independent Prep-6
Fleetwood Primary School
Narre Warren, VIC, 3805 State Prep-6
Timbarra P-9 College
Berwick, VIC, 3806 State Prep-9
Heritage College
Narre Warren South, VIC, 3805 Independent Prep-12
Berwick Fields Primary School
Berwick, VIC, 3806 State Prep-6
Trinity Catholic Primary School
Narre Warren, VIC, 3805 Independent Prep-6
Narre Warren South P-12 College
Narre Warren South, VIC, 3805 State Prep-12
Berwick Lodge Primary School
Berwick, VIC, 3806 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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