Balaclava is a mid-sized suburb in Victoria within the Port Phillip local government area (postcode 3183). With a population of 5,392, the suburb has a mix of young professionals and families with a median age of 35. Households earn a median income of $105K per year, with an average household size of 2 people. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are English, Australian, Irish.
The median house price in Balaclava is $1.4 million, having dropped significantly 8.2% over the past year. Units have a median price of $568,000 (-2.2% YoY). The current median weekly rent is $570. This gives a gross rental yield of approximately 2.2%. The median monthly mortgage repayment is $2,223.
Public transport access includes 3 rail stations, 8 bus stops. The crime rate in the Port Phillip LGA is higher than average at 13,835 incidents per 100,000 population.
From an investment perspective, Balaclava offers a gross rental yield of 2.2%, rated as low yield. Property prices are above the state median ($1.4M/$875K), placing it in the premium segment. The price-to-income ratio of 13.1x is considered stretched. House prices have moved -8.2% year-on-year.
Balaclava is a mid-sized suburb in Victoria within the Port Phillip local government area (postcode 3183). With a population of 5,392, the suburb has a mix of young professionals and families with a median age of 35. Households earn a median income of $105K per year, with an average household size of 2 people. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are English, Australian, Irish.
The median house price in Balaclava is $1.4 million, having dropped significantly 8.2% over the past year. Units have a median price of $568,000 (-2.2% YoY). The current median weekly rent is $570. This gives a gross rental yield of approximately 2.2%. The median monthly mortgage repayment is $2,223.
Public transport access includes 3 rail stations, 8 bus stops. The crime rate in the Port Phillip LGA is higher than average at 13,835 incidents per 100,000 population.
From an investment perspective, Balaclava offers a gross rental yield of 2.2%, rated as low yield. Property prices are above the state median ($1.4M/$875K), placing it in the premium segment. The price-to-income ratio of 13.1x is considered stretched. House prices have moved -8.2% year-on-year.