Springvale

Springvale, VIC 3171, is a vibrant suburb with a population of 22,174 residents. The suburb has a mix of age groups with a significant number of young adults aged 20-34 years. The median weekly household income is $1,402, with a diverse range of occupations including Managers, Professionals, and Technicians/Tradeworkers. Commuting patterns show a higher reliance on motor vehicles, with a notable proportion working from home. For House investors, Springvale presents an opportunity with a healthy market absorption rate but a relatively high sale price IQR, indicating potential for renovators. The suburb has shown strong median growth rates over the past years. Units also show promise with a high yield median and room demand-supply ratio. The ICSEA percentile for Government schools may be a consideration for families. Springvale offers a dynamic lifestyle to its residents, attracting young adults and families. With options in both the House and Unit markets, investors can leverage the suburb's growth potential and rental demand. The suburb's educational facilities and commuting options further enhance its attractiveness for homeowners and investors alike. Sources: - proptechdata.com.au - Australian Bureau of Statistics (ABS) Census 2021 - Australian Curriculum, Assessment and Reporting Authority (ACARA) School Profiles 2022