Newington

Newington, VIC 3350 has a population of 1,844 with the largest age group being 5 to 19 years old. The suburb has a good mix of occupations, with the top three being professionals, managers, and community and personal service workers. The median household income is $1,695 per week. Residents primarily commute by motor vehicle, followed by working from home and walking. There is a low social housing ratio at 0.4%. For houses in Newington, there is a potential for renovation opportunities indicated by the high saleprice IQR ratio. The suburb also shows consistent growth in the median sale price over the past 10 years. Houses have a good rental demand with a room demand-supply ratio of 133.3%. For units, there is a strong rental yield with a low vacancy rate of 0.2%. Both houses and units have shown positive growth in their median sale prices. Newington, VIC 3350 is a suburb with a diverse demographic profile and good investment potential for both houses and units. With opportunities for renovation in houses and strong rental yield in units, it presents a balanced investment option for property buyers looking for growth and rental returns. Sources: - proptechdata.com.au - Australian Bureau of Statistics (ABS) Census 2021 - Australian Curriculum, Assessment and Reporting Authority (ACARA) School Profiles 2022