Pakenham

Pakenham is a fast-growing suburb with a diverse population profile. The majority of residents are aged between 20 to 44 years, with a significant number of young families and professionals. The median household income is above average, and the commute to work primarily involves motor vehicle usage. The suburb has a moderate percentage of residents working from home. There is a good mix of occupations with professionals, technicians and trades workers being the top three occupational groups in the area. For houses in Pakenham, the market shows steady growth with a moderate median price, appealing rental yield, and low vacancy rates. The sale price IQR indicates potential for renovators. For units, the suburb offers good rental yields and strong growth rates, with a high market absorption rate. Both housing types have strong online search interest, indicating high buyer demand. Pakenham presents a promising investment opportunity for both house and unit buyers. Homeowners can enjoy a vibrant community with excellent amenities and infrastructure while investors can benefit from solid growth trends and rental yields in the suburb. Sources: - proptechdata.com.au - Australian Bureau of Statistics (ABS) Census 2021 - Australian Curriculum, Assessment and Reporting Authority (ACARA) School Profiles 2022